Alphabet Inc. (NASDAQ:GOOGL) Position Decreased by Cortland Associates Inc. MO

Cortland Associates Inc. MO trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,319 shares of the information services provider’s stock after selling 22,182 shares during the period. Alphabet comprises about 5.7% of Cortland Associates Inc. MO’s portfolio, making the stock its 7th biggest position. Cortland Associates Inc. MO’s holdings in Alphabet were worth $44,422,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $38,000. Meritage Group LP boosted its holdings in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC boosted its holdings in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. TD Cowen upped their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Raymond James upped their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley upped their price target on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets increased their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday. Finally, Susquehanna increased their price objective on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.74.

Alphabet Price Performance

GOOGL stock traded down $3.37 during midday trading on Tuesday, hitting $162.78. 33,503,634 shares of the stock were exchanged, compared to its average volume of 30,866,035. The stock’s 50-day moving average price is $148.80 and its 200-day moving average price is $141.79. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.57 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the firm posted $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.49%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,289 shares of company stock valued at $36,724,534. Corporate insiders own 0.88% of the company’s stock.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.