Scotia Capital Inc. Purchases 6,545 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Scotia Capital Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,844,142 shares of the information services provider’s stock after purchasing an additional 6,545 shares during the period. Alphabet comprises 1.7% of Scotia Capital Inc.’s investment portfolio, making the stock its 17th largest holding. Scotia Capital Inc.’s holdings in Alphabet were worth $257,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sonata Capital Group Inc. lifted its holdings in Alphabet by 5.1% during the 3rd quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock worth $487,000 after buying an additional 180 shares during the period. Kellett Wealth Advisors LLC raised its position in shares of Alphabet by 33.7% during the third quarter. Kellett Wealth Advisors LLC now owns 2,460 shares of the information services provider’s stock worth $322,000 after acquiring an additional 620 shares during the last quarter. WealthPlan Investment Management LLC lifted its stake in shares of Alphabet by 17.0% in the third quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider’s stock worth $1,818,000 after acquiring an additional 2,017 shares during the period. SageView Advisory Group LLC boosted its holdings in Alphabet by 2.9% in the third quarter. SageView Advisory Group LLC now owns 31,474 shares of the information services provider’s stock valued at $4,119,000 after acquiring an additional 885 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in Alphabet by 4.1% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 571,981 shares of the information services provider’s stock valued at $74,886,000 after purchasing an additional 22,506 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.2 %

NASDAQ GOOGL opened at $172.50 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $163.41 and its two-hundred day simple moving average is $148.38. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77. The company has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.30 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the firm posted $1.17 EPS. Research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Wedbush upped their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Jefferies Financial Group upped their price target on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Barclays lifted their price objective on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Tigress Financial lifted their target price on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $191.57.

View Our Latest Analysis on Alphabet

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,153 shares of company stock valued at $31,072,079. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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