Addenda Capital Inc. Grows Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Addenda Capital Inc. increased its stake in Alphabet Inc. by 4.2% during Q2, now owning 145,153 shares valued at approximately $25.75 million.
• Alphabet reported Q2 earnings of $2.31 per share, exceeding estimates, with a revenue of $96.43 billion, a 13.8% year-over-year increase.
• The company's recent quarterly dividend was $0.21 per share, with an annualized yield of 0.3%, reflecting a payout ratio of 8.95%.

Addenda Capital Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 145,153 shares of the information services provider's stock after buying an additional 5,871 shares during the quarter. Alphabet makes up 1.1% of Addenda Capital Inc.'s holdings, making the stock its 26th largest holding. Addenda Capital Inc.'s holdings in Alphabet were worth $25,749,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOG. Kingstone Capital Partners Texas LLC lifted its stake in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new position in shares of Alphabet in the first quarter worth $2,622,943,000. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Alphabet in the first quarter worth $369,713,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $243.55 on Wednesday. The company has a market cap of $2.95 trillion, a price-to-earnings ratio of 25.94, a PEG ratio of 1.65 and a beta of 1.01. The firm's fifty day moving average is $218.70 and its 200 day moving average is $185.47. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. 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 $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Alphabet's revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is 8.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $230.35.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,469 shares of company stock valued at $46,586,752. Insiders own 12.99% of the company's stock.

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.

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