Mackenzie Financial Corp Buys 274,964 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mackenzie Financial Corp boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,279,935 shares of the information services provider’s stock after purchasing an additional 274,964 shares during the period. Alphabet accounts for about 1.3% of Mackenzie Financial Corp’s investment portfolio, making the stock its 11th biggest holding. Mackenzie Financial Corp owned 0.05% of Alphabet worth $877,244,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Asset Advisors Inc. NY raised its stake in Alphabet by 9.1% in the third quarter. Matrix Asset Advisors Inc. NY now owns 2,515 shares of the information services provider’s stock valued at $329,000 after buying an additional 210 shares during the period. Sound Income Strategies LLC raised its stake in Alphabet by 10.0% in the 3rd quarter. Sound Income Strategies LLC now owns 29,066 shares of the information services provider’s stock valued at $3,804,000 after acquiring an additional 2,640 shares during the period. Mayflower Financial Advisors LLC lifted its holdings in Alphabet by 0.6% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 44,258 shares of the information services provider’s stock valued at $5,792,000 after purchasing an additional 282 shares during the last quarter. MKT Advisors LLC boosted its position in Alphabet by 1.2% during the third quarter. MKT Advisors LLC now owns 6,819 shares of the information services provider’s stock worth $915,000 after purchasing an additional 84 shares during the period. Finally, McGuire Investment Group LLC increased its holdings in shares of Alphabet by 8.8% in the third quarter. McGuire Investment Group LLC now owns 62,448 shares of the information services provider’s stock valued at $8,172,000 after purchasing an additional 5,029 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by insiders.

Alphabet Stock Up 1.4 %

Shares of NASDAQ GOOGL opened at $156.28 on Tuesday. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.42 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The stock has a 50-day moving average price of $146.43 and a two-hundred day moving average price of $140.78.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the firm posted $1.05 EPS. As a group, analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Redburn Atlantic raised their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Jefferies Financial Group raised their price objective on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday. Roth Mkm decreased their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. BMO Capital Markets reissued an “outperform” rating and set a $185.00 price target (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Finally, Citigroup restated a “buy” rating and issued a $168.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.71.

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.