Cascade Investment Advisors Inc. Has $3.02 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cascade Investment Advisors Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,178 shares of the information services provider’s stock after purchasing an additional 148 shares during the period. Alphabet accounts for 1.9% of Cascade Investment Advisors Inc.’s holdings, making the stock its 5th biggest holding. Cascade Investment Advisors Inc.’s holdings in Alphabet were worth $3,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter valued at $30,000. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter valued at $36,000. Denver PWM LLC bought a new stake in Alphabet in the second quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% in the first 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 in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $163.24 on Friday. The company’s 50 day moving average is $161.37 and its 200-day moving average is $167.75. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm posted $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. BMO Capital Markets decreased their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. TD Securities boosted their target price on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Piper Sandler reissued an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Finally, Pivotal Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.95.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock valued at $35,644,136 in the last quarter. 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.