Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,331 shares of the information services provider’s stock after selling 138 shares during the period. Addenda Capital Inc.’s holdings in Alphabet were worth $7,439,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the 4th quarter worth $38,000. Armor Investment Advisors LLC grew its stake in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter valued at about $55,000. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on GOOGL. Wells Fargo & Company raised their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Citigroup raised their price objective on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a research note on Friday, April 26th. BMO Capital Markets reissued an “outperform” rating and issued a $215.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Finally, Roth Mkm raised their target price on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Alphabet Stock Down 1.8 %

GOOGL opened at $182.15 on Monday. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $186.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50 day moving average price of $172.85 and a 200 day moving average price of $154.44. The firm has a market cap of $2.25 trillion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the firm earned $1.17 EPS. Research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,026 shares of company stock valued at $24,026,243. Insiders own 11.55% of the company’s stock.

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.