OMERS ADMINISTRATION Corp Reduces Holdings in Alphabet Inc. $GOOGL

OMERS ADMINISTRATION Corp lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,739,834 shares of the information services provider’s stock after selling 2,000 shares during the period. Alphabet accounts for about 2.4% of OMERS ADMINISTRATION Corp’s holdings, making the stock its 9th largest holding. OMERS ADMINISTRATION Corp’s holdings in Alphabet were worth $306,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Alphabet during the second quarter valued at $21,944,208,000. Nuveen LLC purchased a new stake in Alphabet during the 1st quarter valued at about $4,317,606,000. Laurel Wealth Advisors LLC increased its stake in Alphabet by 17,667.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock valued at $2,686,640,000 after purchasing an additional 15,159,273 shares in the last quarter. Vanguard Group Inc. raised its holdings in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Alphabet by 51.7% in the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock worth $5,607,232,000 after buying an additional 10,843,853 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the completion of the sale, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,128 shares of company stock valued at $61,326,372 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.1%

Alphabet stock opened at $317.08 on Wednesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. The stock has a fifty day moving average of $279.02 and a 200 day moving average of $226.96. 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 stock has a market cap of $3.83 trillion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. Moffett Nathanson raised their price target on shares of Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Bank of America increased their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. HSBC boosted their price target on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Susquehanna increased their price objective on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. Finally, Needham & Company LLC lifted their price objective on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $312.65.

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.