Cassia Capital Partners LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cassia Capital Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 31.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,093 shares of the information services provider’s stock after purchasing an additional 1,456 shares during the period. Alphabet comprises approximately 0.7% of Cassia Capital Partners LLC’s investment portfolio, making the stock its 19th largest position. Cassia Capital Partners LLC’s holdings in Alphabet were worth $1,153,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $39,000. Denver PWM LLC grew its holdings in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet in the third quarter worth $66,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. KeyCorp raised their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup cut their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,529 shares of company stock worth $16,600,078. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.4 %

Alphabet stock opened at $186.14 on Friday. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The business’s fifty day moving average is $192.37 and its 200 day moving average is $174.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The stock has a market capitalization of $2.28 trillion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts predict that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.