Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by Cassia Capital Partners LLC

Cassia Capital Partners LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,637 shares of the information services provider’s stock after selling 375 shares during the period. Cassia Capital Partners LLC’s holdings in Alphabet were worth $769,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOOGL. James Hambro & Partners LLP grew its holdings in Alphabet by 2.6% during the third quarter. James Hambro & Partners LLP now owns 44,486 shares of the information services provider’s stock worth $7,381,000 after acquiring an additional 1,134 shares during the period. MBE Wealth Management LLC grew its stake in shares of Alphabet by 27.9% in the 3rd quarter. MBE Wealth Management LLC now owns 2,253 shares of the information services provider’s stock worth $374,000 after purchasing an additional 492 shares during the last quarter. Bellecapital International Ltd. raised its holdings in shares of Alphabet by 2.8% in the 3rd quarter. Bellecapital International Ltd. now owns 117,435 shares of the information services provider’s stock worth $19,477,000 after purchasing an additional 3,169 shares in the last quarter. Wealth Advisory Solutions LLC lifted its stake in Alphabet by 3.3% during the third quarter. Wealth Advisory Solutions LLC now owns 7,459 shares of the information services provider’s stock valued at $1,237,000 after purchasing an additional 239 shares during the last quarter. Finally, Arlington Partners LLC boosted its holdings in Alphabet by 17.8% during the third quarter. Arlington Partners LLC now owns 22,267 shares of the information services provider’s stock worth $3,693,000 after buying an additional 3,367 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday. The Goldman Sachs Group reduced their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Argus increased their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Guggenheim lifted their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Price Performance

Shares of GOOGL opened at $171.11 on Friday. Alphabet Inc. has a fifty-two week low of $122.68 and a fifty-two week high of $191.75. The firm’s 50-day simple moving average is $162.32 and its two-hundred day simple moving average is $168.79. The stock has a market cap of $2.11 trillion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm posted $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 7.65 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,744 shares of company stock valued at $35,878,764 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

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.