Cumberland Advisors Inc. Has $3.37 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cumberland Advisors Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,150 shares of the information services provider’s stock after purchasing an additional 1,000 shares during the period. Alphabet makes up approximately 1.3% of Cumberland Advisors Inc.’s holdings, making the stock its 19th largest holding. Cumberland Advisors Inc.’s holdings in Alphabet were worth $3,369,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOOG. Abich Financial Wealth Management LLC lifted its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP acquired a new stake in Alphabet in the second quarter worth about $40,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP lifted its stake in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.3 %

NASDAQ:GOOG opened at $164.51 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $163.18 and its two-hundred day moving average price is $169.52.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOOG shares. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is owned by company insiders.

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.