Alphabet Inc. $GOOGL is Dixon Mitchell Investment Counsel Inc.’s 9th Largest Position

Dixon Mitchell Investment Counsel Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 543,289 shares of the information services provider’s stock after acquiring an additional 19,886 shares during the period. Alphabet comprises approximately 3.7% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 9th biggest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Alphabet were worth $95,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. NBZ Investment Advisors LLC raised its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the second quarter valued at about $31,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after buying an additional 89 shares during the period. Finally, Christopher J. Hasenberg Inc lifted its position in Alphabet by 77.6% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 2.4%

GOOGL stock opened at $313.72 on Tuesday. The firm has a market cap of $3.79 trillion, a price-to-earnings ratio of 30.94, a PEG ratio of 1.86 and a beta of 1.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83. The firm has a fifty day moving average price of $277.54 and a two-hundred day moving average price of $225.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,128 shares of company stock worth $61,326,372 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOGL. Bank of America lifted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley lifted their price target on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Truist Financial set a $350.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday. Finally, Canaccord Genuity Group boosted their price target on Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $312.65.

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.