Alphabet Inc. (NASDAQ:GOOGL) Stock Position Raised by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 362,262 shares of the information services provider's stock after purchasing an additional 6,985 shares during the period. Alphabet accounts for about 1.2% of Kornitzer Capital Management Inc. KS's holdings, making the stock its 17th biggest position. Kornitzer Capital Management Inc. KS's holdings in Alphabet were worth $56,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Perritt Capital Management Inc raised its holdings in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after acquiring an additional 58 shares during the last quarter. Nia Impact Advisors LLC raised its holdings in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after acquiring an additional 59 shares during the last quarter. Hanlon Investment Management Inc. raised its holdings in Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after acquiring an additional 60 shares during the last quarter. Enzi Wealth raised its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the last quarter. Finally, Whipplewood Advisors LLC raised its holdings in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of Alphabet stock traded up $1.01 on Friday, hitting $193.18. The company had a trading volume of 39,738,342 shares, compared to its average volume of 41,427,228. The business has a 50-day simple moving average of $175.77 and a 200-day simple moving average of $172.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. The company has a market cap of $2.34 trillion, a PE ratio of 20.57, a PEG ratio of 1.33 and a beta of 1.00. 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 issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same period last year, the firm posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analyst Ratings Changes

Several research analysts have weighed in on GOOGL shares. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Morgan Stanley boosted their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday. Roth Capital boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Royal Bank Of Canada boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.32.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,409 shares of company stock worth $43,523,710. Corporate insiders own 11.64% 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.