Alberta Investment Management Corp Has $89.18 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Alberta Investment Management Corp reduced its stake in Alphabet Inc. by 0.4%, now holding 576,700 shares valued at approximately $89.18 million, making it the firm's 26th largest investment.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding analyst expectations, with a revenue of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, set to be paid on September 15th, reflecting a 0.4% yield and an 8.95% payout ratio.

Alberta Investment Management Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 576,700 shares of the information services provider's stock after selling 2,400 shares during the quarter. Alphabet accounts for about 0.6% of Alberta Investment Management Corp's investment portfolio, making the stock its 26th largest holding. Alberta Investment Management Corp's holdings in Alphabet were worth $89,181,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Howland Capital Management LLC boosted its position in Alphabet by 0.5% during the 1st quarter. Howland Capital Management LLC now owns 571,895 shares of the information services provider's stock worth $88,438,000 after acquiring an additional 3,114 shares during the period. Nicolet Advisory Services LLC raised its stake in shares of Alphabet by 5.9% during the 1st quarter. Nicolet Advisory Services LLC now owns 44,502 shares of the information services provider's stock worth $6,801,000 after purchasing an additional 2,467 shares in the last quarter. Momentous Wealth Management Inc. raised its stake in shares of Alphabet by 64.9% during the 1st quarter. Momentous Wealth Management Inc. now owns 2,993 shares of the information services provider's stock worth $463,000 after purchasing an additional 1,178 shares in the last quarter. Pasadena Private Wealth LLC raised its stake in shares of Alphabet by 26.1% during the 1st quarter. Pasadena Private Wealth LLC now owns 10,116 shares of the information services provider's stock worth $1,564,000 after purchasing an additional 2,094 shares in the last quarter. Finally, US Financial Advisors LLC raised its stake in shares of Alphabet by 23.8% during the 1st quarter. US Financial Advisors LLC now owns 2,080 shares of the information services provider's stock worth $322,000 after purchasing an additional 400 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $201.42 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.44 trillion, a P/E ratio of 21.45, a P/E/G ratio of 1.33 and a beta of 1.01. The business's fifty day moving average is $180.89 and its two-hundred day moving average is $173.15. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Wedbush raised their price target on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. BMO Capital Markets raised their price target on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Sanford C. Bernstein raised their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC raised their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,219 shares of company stock valued at $49,474,273. 11.64% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.