Cumberland Partners Ltd Has $52.36 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cumberland Partners Ltd lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 274,925 shares of the information services provider’s stock after selling 1,106 shares during the period. Alphabet comprises approximately 3.7% of Cumberland Partners Ltd’s portfolio, 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 large investors have also recently modified their holdings of the stock. Sterling Financial Planning Inc. grew its stake in shares of Alphabet by 2.6% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC lifted its stake in shares of Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after purchasing an additional 52 shares during the period. Harrell Investment Partners LLC boosted its stake in shares of Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 53 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares in the last quarter. Finally, Tempus Wealth Planning LLC grew its stake in Alphabet by 1.7% in the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GOOG shares. JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Trading Down 2.7 %

Alphabet stock opened at $181.58 on Monday. 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 firm’s 50-day moving average is $194.02 and its 200-day moving average is $177.45. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. 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 announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s payout ratio is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock worth $25,055,751 in the last 90 days. Corporate insiders own 12.99% 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.