Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Canoe Financial LP

Canoe Financial LP raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 513.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,424,014 shares of the information services provider's stock after acquiring an additional 1,191,880 shares during the period. Alphabet makes up 3.9% of Canoe Financial LP's holdings, making the stock its 3rd biggest holding. Canoe Financial LP's holdings in Alphabet were worth $269,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. LMR Partners LLP acquired a new position in Alphabet during the 3rd quarter worth approximately $32,000. Denver PWM LLC grew its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Quarry LP acquired a new position in Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America acquired a new position in Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC grew its holdings in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock worth $67,000 after acquiring an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 11.55% of the company's stock.

Alphabet Price Performance

NASDAQ GOOGL traded up $2.05 during trading hours on Tuesday, reaching $198.05. The company's stock had a trading volume of 29,346,687 shares, compared to its average volume of 23,514,902. The stock has a market cap of $2.42 trillion, a PE ratio of 26.27, a PEG ratio of 1.26 and a beta of 0.98. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The company's 50-day moving average is $184.74 and its two-hundred day moving average is $173.33. 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:GOOGL - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm earned $1.55 EPS. Analysts forecast that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Alphabet's dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, Bank of America restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $208.15.

Alphabet Company 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.