Baskin Financial Services Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 355,295 shares of the information services provider's stock after selling 2,966 shares during the quarter. Alphabet comprises about 4.5% of Baskin Financial Services Inc.'s investment portfolio, making the stock its 5th biggest position. Baskin Financial Services Inc.'s holdings in Alphabet were worth $55,508,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC boosted its stake in Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after buying an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Capital International Investors lifted its holdings in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares during the period. Northern Trust Corp boosted its position in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Transactions at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,143 shares of company stock worth $30,529,028. Insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Shares of GOOG stock opened at $179.76 on Thursday. The company has a market cap of $2.18 trillion, a P/E ratio of 20.04, a PEG ratio of 1.25 and a beta of 1.01. The business has a 50 day moving average of $169.27 and a two-hundred day moving average of $175.84. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's payout ratio is 9.36%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on GOOG shares. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and six have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $206.38.
Check Out Our Latest Research Report on Alphabet
About Alphabet
(
Free Report)
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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