Cypress Capital Group Purchases 1,061 Shares of Alphabet Inc. $GOOGL

Cypress Capital Group increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,580 shares of the information services provider’s stock after buying an additional 1,061 shares during the quarter. Alphabet accounts for about 0.9% of Cypress Capital Group’s portfolio, making the stock its 28th biggest holding. Cypress Capital Group’s holdings in Alphabet were worth $7,504,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOGL. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. GAMMA Investing LLC boosted its position in Alphabet by 10.5% during the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock valued at $16,062,000 after purchasing an additional 9,900 shares during the last quarter. Heartland Bank & Trust Co boosted its position in Alphabet by 16.7% during the first quarter. Heartland Bank & Trust Co now owns 45,083 shares of the information services provider’s stock valued at $6,972,000 after purchasing an additional 6,444 shares during the last quarter. Finally, Shum Financial Group Inc. boosted its position in Alphabet by 6.0% during the first quarter. Shum Financial Group Inc. now owns 8,718 shares of the information services provider’s stock valued at $1,348,000 after purchasing an additional 496 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on 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 owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. Company insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $253.08 on Friday. The firm has a market cap of $3.06 trillion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $257.33. The business’s 50 day moving average is $235.60 and its 200-day moving average is $194.45.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOGL. Susquehanna increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Rosenblatt Securities increased their price target on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Barclays increased their price target on Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, BMO Capital Markets set a $294.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $259.12.

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.