Cumberland Advisors Inc. Decreases Stock Holdings in Alphabet Inc (NASDAQ:GOOG)

Cumberland Advisors Inc. trimmed its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 977 shares of the information services provider’s stock after selling 140 shares during the period. Cumberland Advisors Inc.’s holdings in Alphabet were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. bought a new position in shares of Alphabet in the third quarter worth approximately $26,000. HMS Capital Management LLC bought a new position in shares of Alphabet in the second quarter worth approximately $38,000. Thor Advisors LLC bought a new position in shares of Alphabet in the first quarter worth approximately $56,000. First PREMIER Bank boosted its position in shares of Alphabet by 44.4% in the third quarter. First PREMIER Bank now owns 52 shares of the information services provider’s stock worth $63,000 after purchasing an additional 16 shares during the period. Finally, Permanens Capital L.P. boosted its position in shares of Alphabet by 180.0% in the second quarter. Permanens Capital L.P. now owns 70 shares of the information services provider’s stock worth $76,000 after purchasing an additional 45 shares during the period. 33.79% of the stock is owned by hedge funds and other institutional investors.

In other Alphabet news, SVP David C. Drummond sold 1,600 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1,179.44, for a total transaction of $1,887,104.00. Following the transaction, the senior vice president now directly owns 44,482 shares in the company, valued at approximately $52,463,850.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 150 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total transaction of $183,750.00. Following the transaction, the director now owns 276 shares in the company, valued at $338,100. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,391 shares of company stock worth $6,502,992. 12.99% of the stock is owned by company insiders.



A number of equities analysts have weighed in on GOOG shares. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wedbush upped their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, UBS Group restated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,378.93.

GOOG stock traded up $17.21 during trading on Friday, hitting $1,225.88. The company had a trading volume of 94,420 shares, compared to its average volume of 1,363,880. The firm has a market capitalization of $824.54 billion, a P/E ratio of 25.80, a PEG ratio of 1.39 and a beta of 0.99. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27. The company has a 50 day simple moving average of $1,204.96 and a 200-day simple moving average of $1,171.62. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The company had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $11.75 EPS. Sell-side analysts forecast that Alphabet Inc will post 51.66 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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