Cache Advisors LLC Invests $6.50 Million in Alphabet Inc. (NASDAQ:GOOGL)

Cache Advisors LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,309 shares of the information services provider's stock, valued at approximately $6,495,000. Alphabet accounts for about 2.4% of Cache Advisors LLC's holdings, making the stock its 12th biggest position.

A number of other hedge funds have also recently modified their holdings of GOOGL. GF Fund Management CO. LTD. bought a new position in Alphabet during the 4th quarter valued at approximately $89,168,000. Pinney & Scofield Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $464,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter valued at $3,346,000. WCG Wealth Advisors LLC raised its position in shares of Alphabet by 3.8% in the 4th quarter. WCG Wealth Advisors LLC now owns 102,214 shares of the information services provider's stock worth $19,349,000 after purchasing an additional 3,718 shares during the last quarter. Finally, Pacific Point Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $350,000. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

GOOGL traded down $2.40 during midday trading on Monday, reaching $168.47. The company had a trading volume of 35,166,008 shares, compared to its average volume of 29,747,753. The business has a 50-day moving average of $158.57 and a two-hundred day moving average of $174.83. 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 Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a market cap of $2.04 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm posted $1.89 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet's dividend payout ratio is 9.36%.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock worth $26,793,380 in the last three months. Company insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Stifel Nicolaus cut their price objective on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald dropped their target price on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. DA Davidson reduced their price target 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. Truist Financial decreased their price objective on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Wells Fargo & Company increased their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet 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.