Cyr Financial Inc. Boosts Stake in Alphabet Inc. $GOOGL

Cyr Financial Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 17.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,452 shares of the information services provider’s stock after purchasing an additional 813 shares during the quarter. Alphabet accounts for 0.7% of Cyr Financial Inc.’s holdings, making the stock its 29th largest holding. Cyr Financial Inc.’s holdings in Alphabet were worth $961,000 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. Oakworth Capital Inc. raised its position in Alphabet by 12.3% in the second quarter. Oakworth Capital Inc. now owns 26,779 shares of the information services provider’s stock valued at $4,719,000 after purchasing an additional 2,942 shares during the period. Baron Silver Stevens Financial Advisors LLC raised its position in Alphabet by 2.2% in the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,585 shares of the information services provider’s stock valued at $1,865,000 after purchasing an additional 227 shares during the period. SWS Partners raised its position in Alphabet by 100.2% in the second quarter. SWS Partners now owns 29,123 shares of the information services provider’s stock valued at $5,132,000 after purchasing an additional 14,573 shares during the period. Archford Capital Strategies LLC raised its position in Alphabet by 4.2% in the second quarter. Archford Capital Strategies LLC now owns 62,669 shares of the information services provider’s stock valued at $11,044,000 after purchasing an additional 2,546 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Alphabet by 5.1% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 61,414 shares of the information services provider’s stock valued at $10,823,000 after purchasing an additional 2,990 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Morgan Stanley set a $270.00 price objective on Alphabet and gave the company an “overweight” rating in a research note on Thursday. Mizuho set a $295.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $240.76.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.1%

GOOGL opened at $245.35 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day moving average price of $221.25 and a 200 day moving average price of $185.96.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate 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 $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Alphabet Profile

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.