Cohen Capital Management Inc. Acquires 2,440 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cohen Capital Management Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 23.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,860 shares of the information services provider’s stock after buying an additional 2,440 shares during the period. Cohen Capital Management Inc.’s holdings in Alphabet were worth $2,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet during the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, FPC Investment Advisory Inc. increased its stake in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Barclays lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Down 2.1 %

GOOG stock opened at $177.37 on Wednesday. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a fifty day moving average price of $193.29 and a 200 day moving average price of $177.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,299 shares of company stock valued at $25,055,751. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

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.