Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cullinan Associates Inc.

Posted by on Mar 21st, 2023

Cullinan Associates Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,400 shares of the information services provider’s stock after selling 9,240 shares during the quarter. Alphabet accounts for approximately 0.9% of Cullinan Associates Inc.’s portfolio, making the stock its 25th largest holding. Cullinan Associates Inc.’s holdings in Alphabet were worth $15,917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. IAG Wealth Partners LLC boosted its holdings in Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC boosted its holdings in Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares in the last quarter. Laurel Wealth Planning LLC boosted its holdings in Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares in the last quarter. Coston McIsaac & Partners boosted its holdings in Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares in the last quarter. Finally, Horizons Wealth Management purchased a new stake in Alphabet during the second quarter worth about $33,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. Mizuho decreased their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Truist Financial reduced their price target on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a report on Friday. Stifel Nicolaus began coverage on shares of Alphabet in a report on Monday. They issued a “buy” rating on the stock. Finally, Evercore ISI reduced their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $132.44.

Alphabet Price Performance

Alphabet stock opened at $101.22 on Tuesday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The firm has a fifty day moving average of $95.34 and a 200-day moving average of $96.03. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 22.24, a PEG ratio of 1.40 and a beta of 1.09. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same period in the previous year, the company earned $1.53 EPS. As a group, analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. Insiders sold 74,245 shares of company stock valued at $7,174,078 over the last 90 days. Corporate insiders own 11.44% of the company’s stock.

About Alphabet

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.