Cooke & Bieler LP Has $2.44 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Cooke & Bieler LP decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,394 shares of the information services provider’s stock after selling 1,971 shares during the quarter. Cooke & Bieler LP’s holdings in Alphabet were worth $2,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nebula Research & Development LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $787,000. New Hampshire Trust increased its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Matisse Capital increased its position in shares of Alphabet by 13.7% in the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after acquiring an additional 2,026 shares during the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $359,000. Finally, Schneider Downs Wealth Management Advisors LP increased its position in shares of Alphabet by 58.4% in the first 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 last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GOOGL shares. Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Citigroup lifted their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price target on shares of Alphabet in a report on Monday. Cantor Fitzgerald started coverage on Alphabet in a report on Thursday, September 5th. They set a “neutral” rating and a $190.00 price target for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Trading Up 0.8 %

Shares of GOOGL stock opened at $159.32 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.97 trillion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The stock has a 50 day simple moving average of $166.25 and a 200 day simple moving average of $165.17. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 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 during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the business earned $1.44 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at $4,385,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $30,139,931 over the last three months. Corporate 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.