Cypress Capital Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ: GOOG – Get Rating) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,084 shares of the information services provider’s stock after purchasing an additional 120 shares during the quarter. Cypress Capital Management LLC’s holdings in Alphabet were worth $ 3,137,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Alphabet by 0.6% during the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock worth $ 30,696,262,000 after buying an additional 58,955 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Alphabet by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock worth $ 13,474,847,000 after purchasing an additional 97,666 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 2.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider’s stock worth $ 10,857,740,000 after purchasing an additional 87,144 shares during the last quarter. Alliancebernstein LP grew its position in shares of Alphabet by 1.6% in the fourth quarter. Alliancebernstein LP now owns 3,082,944 shares of the information services provider’s stock valued at $ 8,920,776,000 after purchasing an additional 48,928 shares during the period. Finally, Capital World Investors increased its stake in Alphabet by 1.7% in the fourth quarter. Capital World Investors now owns 3,081,304 shares of the information services provider’s stock valued at $ 8,916,156,000 after purchasing an additional 51,967 shares during the last quarter. 31.20% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on GOOG. Wedbush restated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Oppenheimer restated an “outperform” rating and issued a $ 3,290.00 target price on shares of Alphabet in a report on Thursday, April 28th. Raymond James decreased their price target on shares of Alphabet from $ 3,630.00 to $ 3,180.00 in a report on Wednesday, April 27th. Canaccord Genuity Group dropped their price target on Alphabet from $ 3,500.00 to $ 3,300.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Finally, JPMorgan Chase & Co. reduced their target price on Alphabet from $ 3,450.00 to $ 3,200.00 in a report on Wednesday, April 27th. Twenty-nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $ 3,315.38.
In other news, major shareholder 2016 Gp LLC Gv sold 544,249 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $ 11.16, for a total value of $ 6,073,818.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $ 2,800.20, for a total value of $ 117,608.40. The disclosure for this sale can be found here. Insiders sold 551,700 shares of company stock valued at $ 25,637,428 in the last ninety days. Corporate insiders own 12.99% of the company stock.
Shares of GOOG opened at $ 2,132.72 on Friday. Alphabet Inc. has a 12 month low of $ 2,044.16 and a 12 month high of $ 3,042.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The stock has a fifty day moving average price of $ 2,341.07 and a 200 day moving average price of $ 2,622.47. The company has a market cap of $ 1.40 trillion, a P / E ratio of 19.29, a PEG ratio of 1.04 and a beta of 1.13.
Alphabet’s stock is set to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be distributed to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ: GOOG – Get Rating) last announced its earnings results on Tuesday, April 26th. The information services provider reported $ 24.62 earnings per share for the quarter, missing the consensus estimate of $ 25.70 by ($ 1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The business had revenue of $ 56.02 billion for the quarter, compared to the estimate consensus of $ 56.17 billion. During the same period in the previous year, the firm earned $ 26.29 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 111.86 earnings per share for the current year.
Alphabet Company Profile: (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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