Cahaba Wealth Management Inc. Sells 241 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cahaba Wealth Management Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,674 shares of the information services provider’s stock after selling 241 shares during the period. Cahaba Wealth Management Inc.’s holdings in Alphabet were worth $609,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its position in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during the period. Capital World Investors raised its holdings in shares of Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after buying an additional 597,756 shares during the period. Finally, American Century Companies Inc. increased its holdings in Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.8 %

Shares of Alphabet stock opened at $169.68 on Wednesday. The firm has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $122.68 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a 50 day moving average of $162.00 and a 200 day moving average of $168.74.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOGL shares. Royal Bank of Canada raised their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley lowered their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. BMO Capital Markets reduced their target price on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Truist Financial lifted their price objective on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

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.