Cullinan Associates Inc. Sells 18,640 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cullinan Associates Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 15.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,711 shares of the information services provider’s stock after selling 18,640 shares during the quarter. Cullinan Associates Inc.’s holdings in Alphabet were worth $15,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Tributary Capital Management LLC bought a new stake in Alphabet during the 1st quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the 4th quarter valued at $38,000. Richardson Capital Management LLC increased its stake in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares during the period. Finally, Armor Investment Advisors LLC raised its position in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $190.60 on Friday. The firm has a market cap of $2.36 trillion, a PE ratio of 29.23, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $190.86. The company’s fifty day simple moving average is $175.43 and its 200-day simple moving average is $155.98. 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:GOOGLGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the firm posted $1.17 EPS. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock worth $21,143,403 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Wolfe Research boosted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Argus raised their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Stifel Nicolaus reiterated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, June 28th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.66.

Read Our Latest Stock Report on GOOGL

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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