Nexus Investment Management ULC Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Nexus Investment Management ULC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,330 shares of the information services provider's stock after selling 1,850 shares during the quarter. Nexus Investment Management ULC's holdings in Alphabet were worth $1,388,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in Alphabet during the 3rd quarter worth approximately $32,000. Denver PWM LLC increased 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 purchasing an additional 57 shares in the last quarter. Quarry LP bought a new position in shares of Alphabet in the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet in the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC grew its holdings in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock valued at $67,000 after acquiring an additional 64 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,387 shares of company stock worth $24,368,654. Company insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a report on Friday, January 10th. Truist Financial upped their target price on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Cantor Fitzgerald reduced their target price on Alphabet from $215.00 to $210.00 and set a "neutral" rating for the company in a report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Finally, Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $208.67.

Alphabet Price Performance

GOOGL traded up $1.02 during trading on Wednesday, reaching $199.07. The stock had a trading volume of 9,974,715 shares, compared to its average volume of 22,481,398. The stock has a market cap of $2.44 trillion, a PE ratio of 26.43, a PEG ratio of 1.26 and a beta of 0.98. 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 Inc. has a one year low of $130.66 and a one year high of $202.29. The business has a 50-day moving average of $185.07 and a 200-day moving average of $173.38.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

About Alphabet

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.