Cullinan Associates Inc. Has $18.98 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Cullinan Associates Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,621 shares of the information services provider’s stock after acquiring an additional 9,612 shares during the quarter. Alphabet accounts for 1.1% of Cullinan Associates Inc.’s portfolio, making the stock its 24th largest position. Cullinan Associates Inc.’s holdings in Alphabet were worth $18,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Veracity Capital LLC grew its holdings in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky lifted its position in Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after acquiring an additional 11,646 shares during the last quarter. Strategic Blueprint LLC increased its position in Alphabet by 36.7% in the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after acquiring an additional 4,044 shares in the last quarter. Finally, Investment Partners LTD. raised its stake in shares of Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after acquiring an additional 410 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOG opened at $186.61 on Wednesday. The stock has a market cap of $2.31 trillion, a P/E ratio of 28.62, a P/E/G ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.50. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $174.93 and a 200 day simple moving average of $156.20.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the firm posted $1.17 earnings per share. Alphabet’s revenue was up 15.4% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOG shares. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.86.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock worth $21,143,403 over the last ninety days. Company insiders own 12.99% 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.