Cypress Asset Management Inc. TX Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Cypress Asset Management Inc. TX acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,709 shares of the information services provider's stock, valued at approximately $5,361,000. Alphabet accounts for approximately 1.3% of Cypress Asset Management Inc. TX's investment portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new position in Alphabet in the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter valued at about $39,000. PayPay Securities Corp grew its stake in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Alphabet in the 4th quarter worth about $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. KeyCorp upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Tigress Financial upped their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. JMP Securities restated a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. BMO Capital Markets restated an "outperform" rating and issued a $200.00 target price (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Finally, Citigroup upped their target price on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.75.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $4.43 during midday trading on Tuesday, reaching $172.90. The company had a trading volume of 37,917,640 shares, compared to its average volume of 29,780,742. The business's 50-day simple moving average is $158.67 and its 200 day simple moving average is $174.76. The stock has a market cap of $2.10 trillion, a P/E ratio of 21.48, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock valued at $26,793,380 over the last 90 days. Insiders own 11.64% of the company's stock.

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.