Cypress Asset Management Inc. TX Purchases Shares of 64,329 Alphabet Inc. (NASDAQ:GOOG)

Cypress Asset Management Inc. TX acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 64,329 shares of the information services provider’s stock, valued at approximately $9,066,000. Alphabet makes up approximately 2.7% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. WealthPlan Investment Management LLC boosted its holdings in shares of Alphabet by 508.0% during the third quarter. WealthPlan Investment Management LLC now owns 56,632 shares of the information services provider’s stock worth $7,467,000 after purchasing an additional 47,317 shares during the period. Empirical Finance LLC increased its position in shares of Alphabet by 8.9% during the third quarter. Empirical Finance LLC now owns 184,890 shares of the information services provider’s stock valued at $24,378,000 after buying an additional 15,084 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Alphabet by 0.9% in the third quarter. Bank Pictet & Cie Europe AG now owns 480,170 shares of the information services provider’s stock worth $63,310,000 after buying an additional 4,503 shares in the last quarter. CPA Asset Management LLC boosted its position in Alphabet by 3.5% during the 3rd quarter. CPA Asset Management LLC now owns 6,440 shares of the information services provider’s stock valued at $849,000 after acquiring an additional 220 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in shares of Alphabet by 14.9% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,922 shares of the information services provider’s stock worth $649,000 after acquiring an additional 640 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,935 shares of company stock valued at $31,178,987. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Stock Performance

NASDAQ:GOOG traded down $2.94 during midday trading on Thursday, hitting $175.06. The company’s stock had a trading volume of 14,905,772 shares, compared to its average volume of 22,024,479. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $179.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market cap of $2.16 trillion, a P/E ratio of 27.18, a P/E/G ratio of 1.33 and a beta of 1.02. The firm’s 50 day moving average is $160.98 and its 200-day moving average is $147.60.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 7.7 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

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.