Alphabet Inc. $GOOGL Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,810 shares of the information services provider’s stock after selling 292 shares during the quarter. Addenda Capital Inc.’s holdings in Alphabet were worth $8,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.1%

Shares of NASDAQ GOOGL opened at $245.35 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50-day moving average is $221.25 and its two-hundred day moving average is $185.80.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. DA Davidson lifted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Wall Street Zen downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Citizens Jmp lifted their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Guggenheim lifted their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.76.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is owned by company insiders.

Alphabet 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.