Alphabet Inc. (NASDAQ:GOOGL) is Cim LLC’s 2nd Largest Position

Cim LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 147,576 shares of the information services provider’s stock after selling 153 shares during the period. Alphabet accounts for approximately 4.0% of Cim LLC’s portfolio, making the stock its 2nd biggest holding. Cim LLC’s holdings in Alphabet were worth $27,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockbridge Capital Management LLC purchased a new position in Alphabet during the fourth quarter worth approximately $3,119,000. Optivise Advisory Services LLC increased its stake in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. increased its stake in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd raised its holdings in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after acquiring an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC boosted its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after acquiring an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Wells Fargo & Company increased their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,654 shares of company stock worth $26,793,380 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 1.4%

NASDAQ:GOOGL opened at $168.47 on Tuesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a market cap of $2.04 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $158.67 and a 200 day moving average price of $174.76.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

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.