Cascade Investment Advisors Inc. Has $1.83 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 29th, 2023

Cascade Investment Advisors Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 12.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,640 shares of the information services provider’s stock after purchasing an additional 1,910 shares during the quarter. Alphabet comprises about 1.4% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 10th biggest holding. Cascade Investment Advisors Inc.’s holdings in Alphabet were worth $1,830,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOGL. DC Investments Management LLC acquired a new position in Alphabet in the 1st quarter valued at $114,000. Bridgefront Capital LLC acquired a new position in Alphabet in the 1st quarter valued at $225,000. Worth Asset Management LLC acquired a new position in Alphabet in the 1st quarter valued at $206,000. Eudaimonia Advisors LLC raised its holdings in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet in the 1st quarter valued at $281,000. 35.38% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total transaction of $227,040.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $13.65, for a total value of $227,040.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,006 shares of company stock valued at $8,804,132. 0.88% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $131.01 on Tuesday. The company has a market cap of $1.65 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $134.25. The business has a 50 day moving average price of $125.24 and a 200-day moving average price of $113.62. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period in the prior year, the business posted $1.21 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GOOGL shares. Bank of America boosted their price target on Alphabet from $142.00 to $146.00 in a report on Wednesday, July 26th. Mizuho boosted their price target on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. JPMorgan Chase & Co. boosted their price target on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Morgan Stanley boosted their price target on Alphabet from $150.00 to $155.00 in a report on Wednesday, July 26th. Finally, UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $123.00 to $132.00 in a report on Monday, June 26th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.08.

Read Our Latest Report on GOOGL

Alphabet Profile

(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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.