Cassia Capital Partners LLC Purchases 1,456 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cassia Capital Partners LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 31.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,093 shares of the information services provider’s stock after purchasing an additional 1,456 shares during the quarter. Alphabet accounts for about 0.7% of Cassia Capital Partners LLC’s holdings, making the stock its 19th biggest holding. Cassia Capital Partners LLC’s holdings in Alphabet were worth $1,153,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOOGL. State Street Corp increased its holdings in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC grew its position in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its position in shares of Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after acquiring an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $186.14 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.28 trillion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The stock’s fifty day simple moving average is $192.37 and its two-hundred day simple moving average is $174.95. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts forecast that Alphabet Inc. will post 8.91 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GOOGL shares. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. DA Davidson lifted their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Piper Sandler cut their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock worth $16,600,078. 11.55% of the stock is owned by company insiders.

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.