Cutter & CO Brokerage Inc. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cutter & CO Brokerage Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,300 shares of the information services provider’s stock after buying an additional 106 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Alphabet were worth $1,571,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new position in Alphabet during the fourth quarter worth $30,000. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter worth $39,000. Finally, PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,182 shares of company stock worth $18,192,354 over the last quarter. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Morgan Stanley decreased their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Citigroup decreased their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research report on Thursday, February 6th. Finally, Piper Sandler decreased their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Price Performance

Shares of GOOGL stock opened at $165.87 on Tuesday. Alphabet Inc. has a fifty-two week low of $136.13 and a fifty-two week high of $207.05. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $187.71 and its 200-day simple moving average is $176.56.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.94%.

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.