Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 612,648 shares of the information services provider’s stock after selling 31,894 shares during the quarter. Alphabet makes up 1.4% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 11th biggest position. Cullen Frost Bankers Inc.’s holdings in Alphabet were worth $86,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet during the fourth quarter worth about $26,000. Tandem Wealth Advisors LLC bought a new position in Alphabet in the 3rd quarter worth about $25,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $32,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Price Performance

GOOG stock traded up $3.15 during trading hours on Tuesday, hitting $172.98. 21,087,028 shares of the stock traded hands, compared to its average volume of 22,735,842. The stock has a 50-day simple moving average of $152.74 and a 200 day simple moving average of $144.21. The company has a market cap of $2.14 trillion, a P/E ratio of 26.53, a P/E/G ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a one year low of $105.79 and a one year high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 7.66 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Insider Activity

In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, the director now owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,129 shares of company stock worth $40,382,765. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.