Alphabet Inc. (NASDAQ:GOOGL) is Canoe Financial LP’s 6th Largest Position

Canoe Financial LP boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,432,014 shares of the information services provider’s stock after acquiring an additional 8,000 shares during the period. Alphabet accounts for about 3.5% of Canoe Financial LP’s investment portfolio, making the stock its 6th largest holding. Canoe Financial LP’s holdings in Alphabet were worth $221,447,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOGL. Covea Finance raised its holdings in Alphabet by 221.4% in the first quarter. Covea Finance now owns 444,500 shares of the information services provider’s stock worth $68,737,000 after buying an additional 306,185 shares during the last quarter. Advisor Resource Council purchased a new position in Alphabet in the first quarter worth about $7,899,000. Segment Wealth Management LLC raised its holdings in Alphabet by 6.4% in the first quarter. Segment Wealth Management LLC now owns 87,505 shares of the information services provider’s stock worth $13,532,000 after buying an additional 5,286 shares during the last quarter. Compass Ion Advisors LLC raised its holdings in Alphabet by 0.6% in the first quarter. Compass Ion Advisors LLC now owns 11,761 shares of the information services provider’s stock worth $1,819,000 after buying an additional 72 shares during the last quarter. Finally, Riverwater Partners LLC raised its holdings in Alphabet by 4.7% in the first quarter. Riverwater Partners LLC now owns 12,288 shares of the information services provider’s stock worth $1,900,000 after buying an additional 550 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial decreased their target price 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $200.00 target price (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Morgan Stanley decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Check Out Our Latest Analysis on Alphabet

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.19 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market capitalization of $2.00 trillion, a P/E ratio of 18.42, a P/E/G ratio of 1.06 and a beta of 1.01. The firm’s 50 day simple moving average is $164.89 and its two-hundred day simple moving average is $174.66.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results 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 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer now directly owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,070 shares of company stock valued at $37,745,632. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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