Cumberland Partners Ltd Sells 21,318 Shares of Alphabet Inc. $GOOGL

Cumberland Partners Ltd trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 17.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,489 shares of the information services provider’s stock after selling 21,318 shares during the period. Alphabet makes up approximately 1.2% of Cumberland Partners Ltd’s portfolio, making the stock its 24th biggest holding. Cumberland Partners Ltd’s holdings in Alphabet were worth $17,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in Alphabet by 15.0% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 34,161 shares of the information services provider’s stock valued at $6,020,000 after purchasing an additional 4,452 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of Alphabet by 8.4% during the 2nd quarter. Howe & Rusling Inc. now owns 6,345 shares of the information services provider’s stock valued at $1,118,000 after buying an additional 490 shares in the last quarter. Lionshead Wealth Management LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $208,000. Miller Financial Services LLC grew its position in Alphabet by 11.5% in the second quarter. Miller Financial Services LLC now owns 4,432 shares of the information services provider’s stock worth $781,000 after acquiring an additional 456 shares in the last quarter. Finally, Winnow Wealth LLC bought a new position in Alphabet in the second quarter valued at $220,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.8%

Shares of Alphabet stock opened at $314.49 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83. The company’s 50 day moving average price is $270.48 and its 200-day moving average price is $220.62. The stock has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,072 shares of company stock valued at $58,074,027 in the last 90 days. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Susquehanna boosted their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. Cantor Fitzgerald increased their price target on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. JMP Securities reissued a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research note on Wednesday, October 22nd. Finally, Loop Capital raised shares of Alphabet from a “hold” rating to a “buy” rating and upped their price objective for the company from $260.00 to $320.00 in a research note on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $308.73.

About Alphabet

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.