Cache Advisors LLC Acquires Shares of 34,309 Alphabet Inc. (NASDAQ:GOOGL)

Cache Advisors LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,309 shares of the information services provider's stock, valued at approximately $6,495,000. Alphabet comprises approximately 2.4% of Cache Advisors LLC's portfolio, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $3,119,000. Optivise Advisory Services LLC lifted its position in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after buying an additional 403 shares in the last quarter. Community Bank N.A. grew its stake in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after buying an additional 2,790 shares during the period. Premier Fund Managers Ltd grew its stake in Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after buying an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC increased its position in shares of Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after acquiring an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GOOGL shares. Piper Sandler raised their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. DA Davidson decreased their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Bank of America lifted their target price on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Finally, Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $199.75.

Insiders Place Their Bets

In other Alphabet news, 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 in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director now directly owns 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,654 shares of company stock worth $26,793,380. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL traded up $0.14 during mid-day trading on Wednesday, hitting $173.04. The stock had a trading volume of 16,929,686 shares, compared to its average volume of 35,469,855. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a 50 day simple moving average of $158.87 and a 200-day simple moving average of $174.75.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a boost 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 annualized dividend and a yield of 0.49%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.