Cullen Investment Group LTD. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,540 shares of the information services provider’s stock after selling 68 shares during the quarter. Cullen Investment Group LTD.’s holdings in Alphabet were worth $2,374,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. LMR Partners LLP bought a new stake in Alphabet during the third quarter valued at about $32,000. Denver PWM LLC bought a new stake in Alphabet during the second quarter valued at about $41,000. Quarry LP bought a new stake in Alphabet during the second quarter valued at about $53,000. Teachers Insurance & Annuity Association of America bought a new stake in Alphabet during the third quarter valued at about $66,000. Finally, Mendota Financial Group LLC boosted its position in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Alphabet Stock Down 0.7 %
Shares of GOOGL stock opened at $189.66 on Wednesday. The stock has a 50 day moving average of $183.45 and a 200 day moving average of $173.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.32 trillion, a P/E ratio of 25.15, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on GOOGL. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Tigress Financial increased their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.15.
Get Our Latest Stock Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % 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 hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,553 shares of company stock valued at $23,817,951. Company insiders own 11.55% of the company’s stock.
Alphabet Company 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.
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