Alphabet Inc. $GOOG Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 22.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 425,655 shares of the information services provider’s stock after buying an additional 76,705 shares during the quarter. Alphabet makes up about 1.1% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 14th biggest holding. Investment Management Corp of Ontario’s holdings in Alphabet were worth $75,507,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. REDW Wealth LLC raised its position in shares of Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after acquiring an additional 54 shares in the last quarter. GDS Wealth Management increased its stake in Alphabet by 2.4% during the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock valued at $412,000 after purchasing an additional 54 shares during the last quarter. ACT Advisors LLC. raised its holdings in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC lifted its position in shares of Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after buying an additional 55 shares during the last quarter. Finally, LongView Wealth Management boosted its holdings in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after buying an additional 56 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 228,906 shares of company stock valued at $62,127,158 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG opened at $314.45 on Tuesday. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67. The stock’s fifty day moving average is $278.13 and its 200-day moving average is $226.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOG. TD Cowen increased their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. KeyCorp reiterated an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, December 3rd. Finally, Morgan Stanley boosted their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $310.54.

Alphabet Company 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.