Cadinha & Co. LLC Buys 1,292 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cadinha & Co. LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,528 shares of the information services provider’s stock after purchasing an additional 1,292 shares during the period. Alphabet comprises 4.3% of Cadinha & Co. LLC’s investment portfolio, making the stock its 7th biggest position. Cadinha & Co. LLC’s holdings in Alphabet were worth $23,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $36,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,367 shares of company stock valued at $30,016,931. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOGL shares. Piper Sandler dropped their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, August 30th. DA Davidson started coverage on Alphabet in a report on Tuesday. They issued a “neutral” rating and a $170.00 price objective on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Finally, Guggenheim raised their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Stock Up 1.7 %

GOOGL opened at $151.16 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50 day simple moving average of $168.75 and a 200-day simple moving average of $164.42. The stock has a market capitalization of $1.86 trillion, a P/E ratio of 23.18, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet’s dividend payout ratio is presently 12.27%.

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.