Cascade Investment Advisors Inc. Has $2.61 Million Stock Holdings in Alphabet Inc. $GOOGL

Cascade Investment Advisors Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,788 shares of the information services provider's stock after selling 3,165 shares during the quarter. Alphabet makes up 1.7% of Cascade Investment Advisors Inc.'s portfolio, making the stock its 11th biggest position. Cascade Investment Advisors Inc.'s holdings in Alphabet were worth $2,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Delaney Dennis R increased its position in Alphabet by 1.6% in the second quarter. Delaney Dennis R now owns 50,371 shares of the information services provider's stock worth $8,877,000 after purchasing an additional 785 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Alphabet by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 503,157 shares of the information services provider's stock worth $88,671,000 after buying an additional 2,100 shares during the period. RoundAngle Advisors LLC grew its position in shares of Alphabet by 4.1% during the 2nd quarter. RoundAngle Advisors LLC now owns 10,936 shares of the information services provider's stock worth $1,927,000 after buying an additional 431 shares during the period. Concord Asset Management LLC VA grew its position in shares of Alphabet by 6.5% during the 2nd quarter. Concord Asset Management LLC VA now owns 31,236 shares of the information services provider's stock worth $5,505,000 after buying an additional 1,910 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after buying an additional 48,805 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GOOGL shares. Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Melius Research boosted their target price on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. CIBC boosted their target price on Alphabet to $315.00 in a research report on Monday. The Goldman Sachs Group restated a "buy" rating and set a $288.00 target price on shares of Alphabet in a research report on Tuesday, October 14th. Finally, Royal Bank Of Canada boosted their target price on Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.12.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.6%

NASDAQ GOOGL opened at $253.08 on Friday. The stock has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.70 and a beta of 1.00. The stock's 50 day moving average price is $235.60 and its two-hundred day moving average price is $194.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $257.33.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.

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