Cypress Wealth Services LLC Acquires 284 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cypress Wealth Services LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,585 shares of the information services provider’s stock after purchasing an additional 284 shares during the quarter. Cypress Wealth Services LLC’s holdings in Alphabet were worth $2,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Swedbank AB purchased a new position in Alphabet in the 1st quarter worth about $1,378,708,000. Capital International Investors raised its position in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after buying an additional 2,190,795 shares during the last quarter. Finally, Vima LLC raised its position in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after buying an additional 2,000,000 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,592 shares of company stock valued at $35,922,911. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. UBS Group cut their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday. Pivotal Research initiated coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $0.14 during trading on Thursday, hitting $162.92. 1,885,496 shares of the stock traded hands, compared to its average volume of 19,779,906. The company has a fifty day moving average price of $163.07 and a two-hundred day moving average price of $169.07. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Company 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.