Cahaba Wealth Management Inc. Has $565,000 Holdings in Alphabet Inc. $GOOGL

Cahaba Wealth Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,205 shares of the information services provider’s stock after selling 720 shares during the period. Cahaba Wealth Management Inc.’s holdings in Alphabet were worth $565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOGL shares. Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Canaccord Genuity Group increased their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Melius Research increased their price objective on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Finally, Mizuho set a $295.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.10.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,285 shares of company stock worth $50,994,787 over the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $244.90 on Thursday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a fifty day moving average price of $219.14 and a 200-day moving average price of $184.66. The company has a market capitalization of $2.96 trillion, a P/E ratio of 26.08, a PEG ratio of 1.64 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

About Alphabet

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.