Cadence Bank NA Has $252,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cadence Bank NA increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 18.8% in the third quarter, Holdings Channel.com reports. The firm owned 2,640 shares of the information services provider’s stock after buying an additional 417 shares during the quarter. Alphabet comprises approximately 1.6% of Cadence Bank NA’s investment portfolio, making the stock its 20th biggest position. Cadence Bank NA’s holdings in Alphabet were worth $252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IAG Wealth Partners LLC increased its position in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its position in Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares during the period. Horizons Wealth Management bought a new stake in shares of Alphabet in the 2nd quarter valued at $33,000. Schubert & Co boosted its stake in shares of Alphabet by 1,200.0% in the 3rd quarter. Schubert & Co now owns 364 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 336 shares during the last quarter. Finally, Carolina Wealth Advisors LLC boosted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 380 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOGL opened at $98.02 on Monday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55. The company has a 50-day simple moving average of $93.03 and a 200 day simple moving average of $101.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a market capitalization of $1.27 trillion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter last year, the business posted $1.40 EPS. On average, research analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Susquehanna reduced their price objective on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 26th. Sanford C. Bernstein reduced their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Atlantic Securities reduced their price objective on shares of Alphabet to $115.00 in a research note on Thursday, October 27th. Susquehanna Bancshares reduced their price objective on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 26th. Finally, Evercore ISI cut their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Insider Buying and Selling

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 277,493 shares of the business’s stock in a transaction on Friday, November 4th. The stock was purchased at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the completion of the transaction, the insider now directly owns 870,895 shares of the company’s stock, valued at $31,360,928.95. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 277,493 shares of the business’s stock in a transaction on Friday, November 4th. The stock was purchased at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the completion of the transaction, the insider now directly owns 870,895 shares of the company’s stock, valued at $31,360,928.95. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 661,702 shares of company stock worth $23,399,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by corporate insiders.

About Alphabet

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.