Cahill Wealth Management LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Cahill Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,652 shares of the information services provider’s stock after purchasing an additional 101 shares during the quarter. Cahill Wealth Management LLC’s holdings in Alphabet were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. Norges Bank bought a new position in shares of Alphabet during the fourth quarter valued at about $24,383,677,000. Wellington Management Group LLP raised its stake in shares of Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after acquiring an additional 9,042,271 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.7 %

GOOGL opened at $156.31 on Wednesday. The stock has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.34 and a beta of 1.03. The firm has a 50 day moving average price of $167.17 and a 200-day moving average price of $176.14. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,663 shares of company stock worth $20,286,447 in the last three months. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Citigroup dropped their price target on Alphabet from $229.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $204.72.

Alphabet Company 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.