Alphabet Inc. (NASDAQ:GOOGL) Position Increased by Cypress Wealth Services LLC

Cypress Wealth Services LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,693 shares of the information services provider’s stock after purchasing an additional 114 shares during the period. Alphabet accounts for 0.8% of Cypress Wealth Services LLC’s portfolio, making the stock its 28th largest position. Cypress Wealth Services LLC’s holdings in Alphabet were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. New Hampshire Trust lifted its holdings in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new stake in Alphabet in the 1st quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP increased its position in Alphabet by 58.4% in 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 Alphabet in the 1st quarter valued at approximately $842,000. Finally, Trinity Financial Advisors LLC increased its position in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $163.42 on Friday. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. 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 fifty day moving average price of $161.77 and a 200 day moving average price of $168.06.

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

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. Royal Bank of Canada raised their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Piper Sandler restated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Wells Fargo & Company lowered their target price on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 over the last three months. Corporate insiders own 11.55% of the company’s stock.

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.