Cullinan Associates Inc. Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cullinan Associates Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,303 shares of the information services provider’s stock after selling 2,619 shares during the period. Alphabet accounts for 1.4% of Cullinan Associates Inc.’s investment portfolio, making the stock its 18th biggest position. Cullinan Associates Inc.’s holdings in Alphabet were worth $25,331,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. New Hampshire Trust increased its holdings in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. bought a new position in Alphabet in the first quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP raised its position in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC lifted its stake in Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its holdings in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $176.51 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.17 trillion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. The business has a 50-day simple moving average of $162.86 and a two-hundred day simple moving average of $169.36. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the sale, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,052 shares of company stock valued at $38,424,448. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GOOGL shares. The Goldman Sachs Group lowered their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Roth Mkm boosted their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $205.90.

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.