Cahill Financial Advisors Inc. Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Cahill Financial Advisors Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 68.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,359 shares of the information services provider's stock after selling 2,956 shares during the quarter. Cahill Financial Advisors Inc.'s holdings in Alphabet were worth $257,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $39,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in Alphabet during the 4th quarter worth approximately $49,000. Institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOGL. Bank of America upped their price objective on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Tigress Financial upped their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. BMO Capital Markets reissued an "outperform" rating and set a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Piper Sandler boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group reduced their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,824 shares of company stock valued at $25,086,603 in the last 90 days. Company insiders own 11.64% of the company's stock.

Alphabet Stock Down 1.0 %

NASDAQ GOOGL traded down $1.53 during mid-day trading on Friday, reaching $152.75. The stock had a trading volume of 32,323,528 shares, compared to its average volume of 28,728,837. The stock has a market cap of $1.85 trillion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a fifty day moving average price of $159.29 and a 200 day moving average price of $175.18. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the company earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.55%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.