Cullinan Associates Inc. Has $15.61 Million Stock Position in Alphabet Inc. $GOOG

Cullinan Associates Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,021 shares of the information services provider’s stock after buying an additional 1,900 shares during the period. Alphabet accounts for approximately 1.0% of Cullinan Associates Inc.’s portfolio, making the stock its 26th biggest holding. Cullinan Associates Inc.’s holdings in Alphabet were worth $15,614,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOOG. MorganRosel Wealth Management LLC bought a new position in Alphabet during the first quarter valued at about $26,000. IFS Advisors LLC raised its holdings in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley raised its holdings in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. Goodman Advisory Group LLC bought a new position in shares of Alphabet in the first quarter worth about $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOG. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial reiterated an “outperform” rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Mizuho upgraded Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.68.

Alphabet Stock Down 0.7%

GOOG stock opened at $245.46 on Thursday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a market cap of $2.97 trillion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.00. The business’s 50-day simple moving average is $225.03 and its 200 day simple moving average is $188.71. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $1.89 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were 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 of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company’s stock.

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.