27,709 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,709 shares of the information services provider's stock, valued at approximately $5,361,000. Alphabet makes up about 1.3% of Cypress Asset Management Inc. TX's portfolio, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Bennett Selby Investments LP lifted its position in Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after purchasing an additional 52 shares during the period. Macroview Investment Management LLC boosted its holdings in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after buying an additional 52 shares during the period. Cornerstone Planning Group LLC grew its holdings in shares of Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after buying an additional 53 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares during the last quarter. Finally, Burt Wealth Advisors lifted its position in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after buying an additional 54 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock valued at $26,793,380 over the last ninety days. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Down 0.6%

GOOGL traded down $0.96 during trading on Thursday, hitting $171.40. 18,618,454 shares of the company's stock were exchanged, compared to its average volume of 29,794,731. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $159.04 and its two-hundred day moving average is $174.73. The stock has a market cap of $2.08 trillion, a P/E ratio of 21.27, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Susquehanna cut their price target on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Tigress Financial lifted their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Mizuho cut their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $199.75.

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.