BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 843,508 shares of the information services provider's stock after selling 134,083 shares during the period. Alphabet comprises about 0.8% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings, making the stock its 22nd largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Alphabet were worth $141,026,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GOOG. L.M. Kohn & Company increased its stake in shares of Alphabet by 0.9% during the third quarter. L.M. Kohn & Company now owns 7,444 shares of the information services provider's stock worth $1,244,000 after buying an additional 70 shares during the period. Circle Wealth Management LLC raised its holdings in shares of Alphabet by 8.3% in the 3rd quarter. Circle Wealth Management LLC now owns 77,972 shares of the information services provider's stock valued at $13,036,000 after purchasing an additional 5,989 shares in the last quarter. Channing Global Advisors LLC lifted its position in shares of Alphabet by 8.2% during the 3rd quarter. Channing Global Advisors LLC now owns 38,450 shares of the information services provider's stock worth $6,428,000 after purchasing an additional 2,915 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Alphabet by 1.2% during the third quarter. Captrust Financial Advisors now owns 674,113 shares of the information services provider's stock worth $112,705,000 after purchasing an additional 7,839 shares in the last quarter. Finally, Kingfisher Capital LLC increased its holdings in Alphabet by 6.7% in the third quarter. Kingfisher Capital LLC now owns 11,898 shares of the information services provider's stock valued at $1,989,000 after buying an additional 744 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
NASDAQ:GOOG traded down $0.33 during trading hours on Friday, hitting $170.49. The company's stock had a trading volume of 9,250,712 shares, compared to its average volume of 19,561,236. The company has a market capitalization of $2.09 trillion, a PE ratio of 22.61, a PEG ratio of 1.19 and a beta of 1.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The business's 50-day moving average is $169.98 and its two-hundred day moving average is $171.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio is presently 10.61%.
Analyst Ratings Changes
GOOG has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. UBS Group increased their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $200.56.
Get Our Latest Analysis on Alphabet
Insiders Place Their Bets
In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock worth $34,673,866. 12.99% of the stock is owned by corporate insiders.
Alphabet Company Profile
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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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