Cascade Investment Advisors Inc. Decreases Position in Alphabet Inc. (NASDAQ:GOOGL)

Cascade Investment Advisors Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,563 shares of the information services provider’s stock after selling 615 shares during the period. Alphabet accounts for about 2.1% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 4th biggest holding. Cascade Investment Advisors Inc.’s holdings in Alphabet were worth $3,325,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GOOGL. BankPlus Wealth Management LLC bought a new stake in Alphabet during the 4th quarter valued at about $513,000. Eaton Cambridge Inc. grew its position in Alphabet by 21.2% during the 4th quarter. Eaton Cambridge Inc. now owns 1,906 shares of the information services provider’s stock worth $361,000 after purchasing an additional 334 shares during the last quarter. JDH Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $299,000. Integrity Wealth Solutions LLC boosted its holdings in shares of Alphabet by 23.2% in the 4th quarter. Integrity Wealth Solutions LLC now owns 4,958 shares of the information services provider’s stock valued at $938,000 after acquiring an additional 935 shares during the last quarter. Finally, Nilsine Partners LLC lifted its holdings in shares of Alphabet by 25.2% in the 4th quarter. Nilsine Partners LLC now owns 21,711 shares of the information services provider’s stock valued at $4,110,000 after buying an additional 4,367 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOGL shares. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. KeyCorp increased their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Alphabet Stock Down 1.4 %

NASDAQ GOOGL opened at $201.23 on Tuesday. The business has a 50 day moving average price of $188.97 and a two-hundred day moving average price of $174.03. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $205.48. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.46 trillion, a PE ratio of 26.69, a P/E/G ratio of 1.31 and a beta of 0.99.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,529 shares of company stock valued at $22,453,483 in the last quarter. 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.