Mackenzie Financial Corp Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mackenzie Financial Corp decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,740,792 shares of the information services provider's stock after selling 326,905 shares during the period. Alphabet accounts for about 1.4% of Mackenzie Financial Corp's investment portfolio, making the stock its 12th biggest position. Mackenzie Financial Corp's holdings in Alphabet were worth $1,086,732,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GOOGL. FMR LLC lifted its holdings in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the period. Norges Bank purchased a new position in Alphabet during the 4th quarter worth $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after buying an additional 7,574,417 shares during the last quarter. Capital Research Global Investors grew its stake in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 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 transaction of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% 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 ninety days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.4%

Shares of Alphabet stock opened at $168.47 on Friday. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.93, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm's 50-day moving average price is $158.57 and its 200 day moving average price is $174.88. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 paid a $0.21 dividend. 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. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and issued a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Susquehanna cut their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Finally, KeyCorp upped their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $199.75.

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.

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