Cim LLC Has $26.91 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Cim LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,724 shares of the information services provider’s stock after selling 2,627 shares during the period. Alphabet makes up 4.0% of Cim LLC’s holdings, making the stock its 4th biggest position. Cim LLC’s holdings in Alphabet were worth $26,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. New Hampshire Trust grew its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in Alphabet in the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP lifted its position in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares during the period. Sanders Morris Harris LLC acquired a new stake in shares of Alphabet during the 1st quarter worth $842,000. Finally, SWP Financial LLC bought a new position in shares of Alphabet in the fourth quarter worth $200,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,092 shares of company stock valued at $35,644,136 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several recent analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, September 25th. Wolfe Research began coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $200.95.

Alphabet Stock Up 0.7 %

Shares of NASDAQ GOOGL opened at $163.24 on Friday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50 day moving average price is $161.37 and its 200-day moving average price is $167.63. The company has a market capitalization of $2.01 trillion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. Equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 11.48%.

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.