Scotia Capital Inc. Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Scotia Capital Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,721,895 shares of the information services provider’s stock after selling 18,590 shares during the period. Alphabet makes up 1.2% of Scotia Capital Inc.’s investment portfolio, making the stock its 26th largest holding. Scotia Capital Inc.’s holdings in Alphabet were worth $151,933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GOOGL. DC Investments Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet in the first quarter worth $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet in the first quarter worth $206,000. Eudaimonia Advisors LLC increased its stake in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet in the first quarter worth $281,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Roth Mkm increased their price objective on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Royal Bank of Canada raised their target price on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Robert W. Baird raised their target price on shares of Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. KeyCorp dropped their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

Alphabet Stock Down 0.1 %

GOOGL stock opened at $122.76 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $125.97. The company’s 50 day moving average is $106.43 and its two-hundred day moving average is $98.18. The stock has a market cap of $1.56 trillion, a P/E ratio of 27.34, a PEG ratio of 1.57 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter last year, the company earned $1.23 earnings per share. Research analysts expect that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares in the company, valued at approximately $139,397,526. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 601,450 shares worth $28,354,856. Insiders own 0.88% of the company’s stock.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.