Cullinan Associates Inc. Sells 548 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cullinan Associates Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,436 shares of the information services provider’s stock after selling 548 shares during the period. Alphabet comprises approximately 1.3% of Cullinan Associates Inc.’s holdings, making the stock its 14th largest position. Cullinan Associates Inc.’s holdings in Alphabet were worth $20,563,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dravo Bay LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. Wealthgate Family Office LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $32,000. Financial Enhancement Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $31,000. Advocacy Wealth Management Services LLC boosted its holdings in shares of Alphabet by 72.7% during the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 8 shares during the last quarter. Finally, Cordant Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $56,000. Institutional investors own 1.88% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $102.80 on Monday. The company has a 50 day moving average price of $112.93 and a 200-day moving average price of $118.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. Alphabet Inc. has a fifty-two week low of $100.94 and a fifty-two week high of $151.55. The company has a market capitalization of $1.34 trillion, a PE ratio of 19.13, a P/E/G ratio of 1.66 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $57.47 billion for the quarter, compared to analysts’ expectations of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period in the previous year, the business earned $27.26 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 5.21 earnings per share for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the transaction, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the completion of the transaction, the chief accounting officer now directly owns 1,192 shares in the company, valued at $2,582,754.08. The disclosure for this sale can be found here. Insiders have sold a total of 44,536 shares of company stock valued at $15,729,998 over the last ninety days. 11.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on GOOGL. Morgan Stanley increased their price objective on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 27th. Guggenheim dropped their price objective on shares of Alphabet to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Barclays lowered their price target on shares of Alphabet from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, July 5th. UBS Group lowered their price target on shares of Alphabet from $133.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Finally, Stifel Nicolaus set a $155.00 price target on shares of Alphabet in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.41.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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