Cumberland Partners Ltd Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Cumberland Partners Ltd increased its holdings in Alphabet Inc. by 4.6% in the first quarter, owning 118,807 shares valued at approximately $18.37 million.
• Alphabet is set to pay a quarterly dividend of $0.21 per share on September 15th, with an annualized yield of 0.4%.
• Several analysts have raised their price targets for Alphabet, with a consensus price target now at $211.53 and a rating of "Moderate Buy".

Cumberland Partners Ltd increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,807 shares of the information services provider's stock after acquiring an additional 5,269 shares during the quarter. Alphabet comprises approximately 1.4% of Cumberland Partners Ltd's portfolio, making the stock its 22nd biggest position. Cumberland Partners Ltd's holdings in Alphabet were worth $18,372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nia Impact Advisors LLC lifted its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares during the period. Hanlon Investment Management Inc. lifted its position in Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after buying an additional 60 shares during the period. Enzi Wealth lifted its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC lifted its position in Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after buying an additional 67 shares during the period. Finally, Aspire Capital Advisors LLC lifted its position in Alphabet by 1.0% during the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 2.5%

Shares of NASDAQ:GOOGL opened at $201.42 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.36 and a beta of 1.01. The stock's 50-day simple moving average is $180.89 and its two-hundred day simple moving average is $172.98.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,219 shares of company stock valued at $49,474,273 in the last ninety days. Corporate insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank Of Canada raised their price objective on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Guggenheim raised their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Tigress Financial raised their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. JMP Securities raised their price target on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Finally, Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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.

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