Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cahaba Wealth Management Inc.

Cahaba Wealth Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,674 shares of the information services provider’s stock after selling 241 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Alphabet were worth $609,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. New Hampshire Trust lifted its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its position in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC grew its stake in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its stake in Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.8 %

Alphabet stock opened at $169.68 on Wednesday. The firm has a 50 day simple moving average of $162.00 and a 200-day simple moving average of $168.74. 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 stock has a market capitalization of $2.10 trillion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 12-month low of $122.68 and a 12-month high of $191.75.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. Citigroup boosted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, September 25th. Roth Mkm reiterated a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Loop Capital reiterated a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Finally, Bank of America upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Seven equities research 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 stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. 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 related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 over the last ninety days. Insiders own 11.55% of the company’s stock.

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.