Cascade Investment Group Inc. Sells 450 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cascade Investment Group Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.2% during the third quarter, Holdings Channel.com reports. The fund owned 6,865 shares of the information services provider’s stock after selling 450 shares during the quarter. Cascade Investment Group Inc.’s holdings in Alphabet were worth $1,139,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted its holdings 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 purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter worth about $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth about $30,000. Denver PWM LLC purchased a new position in shares of Alphabet in the 2nd quarter worth about $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet in the 2nd quarter worth about $53,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $162.72 on Friday. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business’s fifty day moving average is $161.87 and its 200 day moving average is $168.40. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

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

Analyst Ratings Changes

Several brokerages recently weighed in on GOOGL. Evercore ISI dropped their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Tigress Financial increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research assumed coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. Finally, TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Insider Activity at Alphabet

In other Alphabet news, 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 sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, 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 sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate 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.