Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Cahaba Wealth Management Inc.

Cahaba Wealth Management Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,915 shares of the information services provider’s stock after acquiring an additional 90 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Alphabet were worth $713,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. Finally, Denver PWM LLC acquired a new stake in Alphabet during the second quarter worth about $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL opened at $163.59 on Friday. The company’s 50 day simple moving average is $164.72 and its 200-day simple moving average is $165.32. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The firm has a market cap of $2.02 trillion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the company earned $1.44 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Wolfe Research assumed coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Piper Sandler decreased their price target on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price target on shares of Alphabet in a report on Monday, September 16th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,167 shares of company stock valued at $29,762,606. Company insiders own 11.55% of the company’s stock.

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.