Cadence Bank Sells 1,194 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cadence Bank lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,371 shares of the information services provider’s stock after selling 1,194 shares during the period. Alphabet makes up 1.0% of Cadence Bank’s investment portfolio, making the stock its 20th largest position. Cadence Bank’s holdings in Alphabet were worth $14,325,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. MorganRosel Wealth Management LLC raised its stake in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC grew its holdings in shares of Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% in the 2nd 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 in the last quarter. First PREMIER Bank lifted its stake in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the period. Finally, Cutler Investment Counsel LLC lifted its stake in shares of Alphabet by 1.7% in the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 61 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. Wedbush reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Sanford C. Bernstein increased their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Tigress Financial upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Finally, Roth Mkm lifted their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $175.37 on Tuesday. The firm’s 50 day moving average price is $169.70 and its 200-day moving average price is $170.21. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.15 trillion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business 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 last year, the firm earned $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 4.47 % 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, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,789 shares of company stock worth $27,374,143 over the last quarter. 11.55% of the stock is currently owned by corporate insiders.

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.