Cypress Wealth Services LLC Buys 586 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cypress Wealth Services LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the first quarter, Holdings Channel reports. The fund owned 16,402 shares of the information services provider’s stock after acquiring an additional 586 shares during the period. Cypress Wealth Services LLC’s holdings in Alphabet were worth $2,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Capital International Investors increased its stake in shares of Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after acquiring an additional 862,550 shares during the last quarter. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at about $4,101,040,000. Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after acquiring an additional 481,376 shares during the last quarter. Finally, Sanders Capital LLC increased its stake in shares of Alphabet by 2.9% in the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after acquiring an additional 813,428 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 0.8 %

GOOG traded down $1.46 during trading on Friday, hitting $185.40. The company’s stock had a trading volume of 7,175,938 shares, compared to its average volume of 21,185,707. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 28.46, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $187.50. The stock’s fifty day moving average price is $173.26 and its 200-day moving average price is $154.97. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,284 shares of company stock valued at $24,534,393. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOG. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $167.86.

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.