Bank of Nova Scotia Trust Co. Has $13.62 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bank of Nova Scotia Trust Co. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,319 shares of the information services provider’s stock after selling 2,685 shares during the quarter. Alphabet comprises about 1.5% of Bank of Nova Scotia Trust Co.’s holdings, making the stock its 23rd largest position. Bank of Nova Scotia Trust Co.’s holdings in Alphabet were worth $13,622,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp boosted its stake in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after acquiring an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after acquiring an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.2 %

GOOGL opened at $136.17 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $138.00. The company’s 50-day moving average price is $126.03 and its two-hundred day moving average price is $114.21.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on GOOGL shares. Barclays increased their target price on shares of Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Wells Fargo & Company increased their target price on shares of Alphabet from $116.00 to $121.00 in a research note on Wednesday, July 26th. Susquehanna reiterated a “positive” rating and set a $150.00 price objective on shares of Alphabet in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Alphabet in a report on Friday, August 11th. Finally, 888 reiterated a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $143.89.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,031 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $14.98, for a total transaction of $240,144.38. The disclosure for this sale can be found here. Insiders have sold a total of 153,813 shares of company stock valued at $7,380,379 over the last quarter. Company insiders own 0.88% of the company’s stock.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.