Cypress Asset Management Inc. TX grew its position in shares of Alphabet Inc Class C (NASDAQ:GOOG) by 122.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,320 shares of the information services provider’s stock after purchasing an additional 3,483 shares during the period. Alphabet Inc Class C makes up about 2.1% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 9th largest position. Cypress Asset Management Inc. TX’s holdings in Alphabet Inc Class C were worth $7,051,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smart Portfolios LLC acquired a new stake in shares of Alphabet Inc Class C during the first quarter worth approximately $103,000. Braun Bostich & Associates Inc. acquired a new stake in shares of Alphabet Inc Class C during the first quarter worth approximately $107,000. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet Inc Class C during the first quarter worth approximately $113,000. JJJ Advisors Inc. acquired a new position in Alphabet Inc Class C in the second quarter worth $134,000. Finally, WealthShield LLC acquired a new position in Alphabet Inc Class C in the fourth quarter worth $144,000. Institutional investors own 34.20% of the company’s stock.
In other news, Director Ann Mather sold 24 shares of the business’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $1,100.00, for a total transaction of $26,400.00. Following the completion of the transaction, the director now owns 1,870 shares of the company’s stock, valued at $2,057,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Amie Thuener O’toole sold 73 shares of the business’s stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $1,135.82, for a total transaction of $82,914.86. Following the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $440,698.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,362 shares of company stock valued at $105,424,908. Corporate insiders own 13.11% of the company’s stock.
Shares of GOOG opened at $1,171.09 on Thursday. Alphabet Inc Class C has a 1 year low of $909.70 and a 1 year high of $1,273.89. The firm has a market cap of $816.02 billion, a PE ratio of 28.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13.
Alphabet Inc Class C (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.66 by $2.09. Alphabet Inc Class C had a net margin of 13.16% and a return on equity of 18.24%. The company had revenue of $32.66 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same quarter in the previous year, the company posted $5.01 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year.
A number of equities analysts have commented on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a report on Wednesday, July 25th. Cowen lifted their price objective on shares of Alphabet Inc Class C from $1,245.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Friday, July 13th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. Barclays reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a report on Monday, August 20th. Finally, UBS Group reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,255.72.
Alphabet Inc Class C Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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