Alphabet Inc. $GOOGL Stake Raised by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 543,289 shares of the information services provider’s stock after purchasing an additional 19,886 shares during the quarter. Alphabet accounts for 3.7% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 9th largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Alphabet were worth $95,878,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gimbal Financial lifted its position in shares of Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares during the period. Missouri Trust & Investment Co increased its stake in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares in the last quarter. Silver Coast Investments LLC increased its stake in Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC raised its holdings in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Finally, Bfsg LLC boosted its position in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GOOGL shares. HSBC raised their price target on Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. New Street Research raised their target price on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, November 20th. Melius Research increased their price target on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $312.65.

Alphabet Stock Performance

NASDAQ GOOGL opened at $313.72 on Tuesday. The business’s 50-day moving average price is $277.54 and its 200 day moving average price is $225.91. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The company has a market capitalization of $3.79 trillion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,128 shares of company stock valued at $61,326,372 over the last quarter. Company insiders own 11.55% of the company’s stock.

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.