Mackenzie Financial Corp Acquires 274,964 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mackenzie Financial Corp boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,279,935 shares of the information services provider’s stock after buying an additional 274,964 shares during the quarter. Alphabet accounts for 1.3% of Mackenzie Financial Corp’s investment portfolio, making the stock its 11th largest holding. Mackenzie Financial Corp’s holdings in Alphabet were worth $877,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bison Wealth LLC increased its holdings in shares of Alphabet by 8.2% in the 4th quarter. Bison Wealth LLC now owns 28,274 shares of the information services provider’s stock worth $3,950,000 after buying an additional 2,135 shares during the last quarter. Hoxton Planning & Management LLC grew its position in Alphabet by 1.2% in the fourth quarter. Hoxton Planning & Management LLC now owns 8,949 shares of the information services provider’s stock worth $1,250,000 after acquiring an additional 102 shares in the last quarter. Ballast Advisors LLC increased its stake in Alphabet by 8.3% in the fourth quarter. Ballast Advisors LLC now owns 17,058 shares of the information services provider’s stock valued at $2,383,000 after acquiring an additional 1,311 shares during the last quarter. Dakota Wealth Management raised its position in Alphabet by 11.1% during the fourth quarter. Dakota Wealth Management now owns 258,546 shares of the information services provider’s stock valued at $36,116,000 after purchasing an additional 25,808 shares in the last quarter. Finally, Cullen Investment Group LTD. bought a new stake in Alphabet during the fourth quarter worth about $2,246,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.4 %

NASDAQ:GOOGL opened at $156.28 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm’s 50-day moving average price is $146.43 and its 200-day moving average price is $140.78. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.94, a P/E/G ratio of 1.42 and a beta of 1.05. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 in the last 90 days. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GOOGL shares. Wolfe Research increased their price objective on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. KeyCorp boosted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Truist Financial lifted their target price on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

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.