Cumberland Partners Ltd Sells 1,106 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cumberland Partners Ltd reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 274,925 shares of the information services provider’s stock after selling 1,106 shares during the period. Alphabet makes up approximately 3.7% of Cumberland Partners Ltd’s holdings, making the stock its 5th largest holding. Cumberland Partners Ltd’s holdings in Alphabet were worth $52,357,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Ieq Capital LLC boosted its stake in shares of Alphabet by 5.7% in the 4th quarter. Ieq Capital LLC now owns 656,458 shares of the information services provider’s stock valued at $125,016,000 after purchasing an additional 35,657 shares during the last quarter. Sterling Financial Planning Inc. grew its holdings in shares of Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after buying an additional 50 shares in the last quarter. Financial Sense Advisors Inc. raised its holdings in shares of Alphabet by 2.7% in the fourth quarter. Financial Sense Advisors Inc. now owns 65,045 shares of the information services provider’s stock valued at $12,387,000 after purchasing an additional 1,691 shares during the last quarter. CogentBlue Wealth Advisors LLC acquired a new stake in Alphabet in the 4th quarter valued at $367,000. Finally, Jessup Wealth Management Inc bought a new stake in Alphabet during the fourth quarter worth about $200,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOG. Barclays increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock valued at $25,055,751 in the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $181.58 on Monday. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $194.02 and a two-hundred day moving average price of $177.45. The company has a market cap of $2.21 trillion, a P/E ratio of 22.56, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate 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, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 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.