Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,563 shares of the information services provider’s stock after selling 615 shares during the quarter. Alphabet comprises 2.1% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 4th largest holding. Cascade Investment Advisors Inc.’s holdings in Alphabet were worth $3,325,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. International Assets Investment Management LLC boosted its position in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC increased its holdings in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Alphabet by 115.4% in the 2nd quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock valued at $1,264,022,000 after buying an additional 3,718,420 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,529 shares of company stock worth $22,453,483. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Monday, January 27th. Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm upped their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.00.

Alphabet Trading Down 1.4 %

NASDAQ GOOGL opened at $201.23 on Tuesday. The business’s 50-day moving average price is $188.97 and its two-hundred day moving average price is $174.03. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $205.48. The firm has a market capitalization of $2.46 trillion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

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.