Mackenzie Financial Corp lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 726,195 shares of the information services provider's stock after purchasing an additional 38,299 shares during the quarter. Mackenzie Financial Corp's holdings in Alphabet were worth $138,297,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of GOOG. Sterling Financial Planning Inc. lifted its stake in Alphabet by 2.6% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after acquiring an additional 50 shares in the last quarter. Arlington Trust Co LLC lifted its stake in Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after acquiring an additional 52 shares in the last quarter. Harrell Investment Partners LLC lifted its stake in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock worth $1,078,000 after acquiring an additional 53 shares in the last quarter. Ethos Financial Group LLC lifted its stake in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after acquiring an additional 53 shares in the last quarter. Finally, Hutchinson Capital Management CA raised its stake in shares of Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director now directly owns 255,400 shares in the company, valued at $44,695,000. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock valued at $26,793,380 in the last 90 days. 12.99% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp cut their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $203.94.
Read Our Latest Research Report on Alphabet
Alphabet Stock Performance
GOOG opened at $169.59 on Friday. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock's 50 day moving average price is $160.47 and its two-hundred day moving average price is $176.60. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company's revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.
Alphabet Company Profile
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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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