Cumberland Partners Ltd Sells 2,685 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cumberland Partners Ltd lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 277,378 shares of the information services provider’s stock after selling 2,685 shares during the quarter. Alphabet comprises about 3.1% of Cumberland Partners Ltd’s holdings, making the stock its 6th biggest holding. Cumberland Partners Ltd’s holdings in Alphabet were worth $36,572,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Cutter & CO Brokerage Inc. raised its holdings in Alphabet by 0.3% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 106,649 shares of the information services provider’s stock valued at $15,030,000 after acquiring an additional 269 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $4,439,000. Ellenbecker Investment Group raised its holdings in Alphabet by 4.6% during the fourth quarter. Ellenbecker Investment Group now owns 3,670 shares of the information services provider’s stock worth $517,000 after purchasing an additional 161 shares in the last quarter. Element Wealth LLC raised its holdings in Alphabet by 4.2% during the fourth quarter. Element Wealth LLC now owns 3,128 shares of the information services provider’s stock worth $441,000 after purchasing an additional 127 shares in the last quarter. Finally, Masso Torrence Wealth Management Inc. raised its holdings in Alphabet by 2.6% during the fourth quarter. Masso Torrence Wealth Management Inc. now owns 23,311 shares of the information services provider’s stock worth $3,285,000 after purchasing an additional 593 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were 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 directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Raymond James raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Stock Performance

NASDAQ:GOOG opened at $157.95 on Friday. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The firm’s fifty day moving average price is $148.48 and its 200 day moving average price is $142.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 6.79 EPS for the current year.

About Alphabet

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.