Cypress Asset Management Inc. TX Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cypress Asset Management Inc. TX purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,215 shares of the information services provider's stock, valued at approximately $10,939,000. Alphabet makes up about 2.7% of Cypress Asset Management Inc. TX's holdings, making the stock its 9th largest holding.

A number of other large investors also recently added to or reduced their stakes in the stock. FMR LLC raised its position in Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after acquiring an additional 3,189,592 shares during the period. Geode Capital Management LLC raised its position in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Capital International Investors raised its position in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares during the period. Northern Trust Corp raised its position in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after buying an additional 294,556 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.6%

NASDAQ:GOOG traded up $4.39 during trading hours on Tuesday, reaching $173.98. 24,291,303 shares of the stock were exchanged, compared to its average volume of 20,134,876. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The business has a 50-day moving average of $160.54 and a two-hundred day moving average of $176.49. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Westpark Capital reiterated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. KeyCorp reduced their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $203.94.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,654 shares of company stock valued at $26,793,380. 12.99% of the stock is owned by corporate insiders.

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.