Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 361,877 shares of the information services provider’s stock after selling 4,596 shares during the quarter. Alphabet comprises 1.0% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 17th biggest position. Kornitzer Capital Management Inc. KS’s holdings in Alphabet were worth $50,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the last quarter. Northern Trust Corp increased its stake in Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after buying an additional 335,219 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after buying an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Alphabet by 9.3% during the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after buying an additional 2,058,221 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last three months, insiders sold 253,439 shares of company stock worth $36,746,578. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $171.95 on Monday. The business’s 50-day simple moving average is $147.85 and its 200-day simple moving average is $141.42. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.58 and a beta of 1.05. Alphabet Inc. has a 1-year low of $103.54 and a 1-year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the previous year, the company posted $1.05 earnings per share. Equities analysts predict that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GOOGL shares. Oppenheimer increased their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday. Mizuho upped their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group raised their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Barclays boosted their price target on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.82.

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.