Dixon Mitchell Investment Counsel Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,457 shares of the information services provider's stock after selling 2,629 shares during the quarter. Dixon Mitchell Investment Counsel Inc.'s holdings in Alphabet were worth $1,039,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&G PLC acquired a new position in Alphabet in the 3rd quarter valued at $2,240,000. Coldstream Capital Management Inc. raised its position in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock valued at $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC raised its holdings in Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Stevens Capital Management LP lifted its holdings in shares of Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider's stock worth $15,254,000 after acquiring an additional 57,810 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider's stock worth $10,624,000 after purchasing an additional 5,892 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a "sector outperform" rating and a $212.00 price objective for the company. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Seaport Res Ptn upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. Finally, Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Six 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $200.56.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
NASDAQ GOOG traded up $3.14 during mid-day trading on Friday, hitting $197.55. The stock had a trading volume of 21,974,853 shares, compared to its average volume of 16,381,408. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.42 trillion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The company has a 50 day simple moving average of $185.92 and a 200 day simple moving average of $174.93.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the business earned $1.55 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.03 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio is presently 10.61%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company's stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 133,387 shares of company stock worth $24,368,654. Insiders own 12.99% of the company's stock.
About Alphabet
(
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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