Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by CacheTech Inc.

CacheTech Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,505 shares of the information services provider’s stock after buying an additional 973 shares during the quarter. CacheTech Inc.’s holdings in Alphabet were worth $2,903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Christopher J. Hasenberg Inc raised its holdings 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 stake in shares of Alphabet during the second quarter valued at $36,000. Denver PWM LLC purchased a new stake in Alphabet during the 2nd quarter worth about $41,000. CarsonAllaria Wealth Management Ltd. raised its stake in 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 purchasing an additional 109 shares during the last quarter. Finally, Quarry LP purchased a new position in Alphabet in the 2nd quarter valued at about $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Bank of America increased their target price on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Down 1.8 %

GOOGL stock opened at $175.58 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $164.82 and a 200-day simple moving average of $170.04. The company has a market capitalization of $2.15 trillion, a P/E ratio of 23.29, a PEG ratio of 1.29 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm posted $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.99 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, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.