Cascade Investment Group Inc. Sells 4,945 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cascade Investment Group Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 33.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,883 shares of the information services provider’s stock after selling 4,945 shares during the quarter. Alphabet makes up 1.1% of Cascade Investment Group Inc.’s investment portfolio, making the stock its 23rd largest holding. Cascade Investment Group Inc.’s holdings in Alphabet were worth $1,393,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GOOG. Raymond James & Associates raised its holdings in shares of Alphabet by 2.4% in the 4th quarter. Raymond James & Associates now owns 5,236,519 shares of the information services provider’s stock worth $737,983,000 after purchasing an additional 122,091 shares during the period. Magnolia Capital Management Ltd. raised its stake in shares of Alphabet by 6.6% in the fourth quarter. Magnolia Capital Management Ltd. now owns 16,390 shares of the information services provider’s stock valued at $2,310,000 after buying an additional 1,015 shares during the period. Helen Stephens Group LLC bought a new stake in shares of Alphabet in the fourth quarter valued at $206,000. CHURCHILL MANAGEMENT Corp lifted its position in shares of Alphabet by 11.9% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 2,282 shares of the information services provider’s stock valued at $322,000 after buying an additional 242 shares during the last quarter. Finally, Rheos Capital Works Inc. bought a new position in shares of Alphabet during the 4th quarter worth $1,409,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $146.33.

View Our Latest Report on GOOG

Alphabet Trading Up 2.0 %

Shares of Alphabet stock opened at $151.77 on Monday. The company’s 50-day moving average price is $144.27 and its 200-day moving average price is $139.09. The company has a market cap of $1.89 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 12-month low of $100.28 and a 12-month high of $155.20. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. On average, equities analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the transaction, the director now directly owns 6,784 shares in the company, valued at approximately $973,436.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $140.11, for a total value of $3,152,475.00. Following the transaction, the chief executive officer now owns 2,422,691 shares of the company’s stock, valued at $339,443,236.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now directly owns 6,784 shares of the company’s stock, valued at approximately $973,436.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,659 shares of company stock worth $39,460,310. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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