National Bank of Canada FI increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,490 shares of the information services provider’s stock after purchasing an additional 11,531 shares during the period. Alphabet makes up about 1.3% of National Bank of Canada FI’s holdings, making the stock its 4th biggest position. National Bank of Canada FI’s holdings in Alphabet were worth $435,768,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Morling Financial Advisors LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $29,000. West Bancorporation Inc. bought a new stake in Alphabet during the fourth quarter worth $29,000. Wealthgate Family Office LLC purchased a new stake in Alphabet in the fourth quarter worth $32,000. NS Partners Ltd purchased a new stake in Alphabet in the fourth quarter worth $41,000. Finally, AHL Investment Management Inc. purchased a new stake in Alphabet in the fourth quarter worth $46,000. Institutional investors and hedge funds own 41.70% of the company’s stock.
Alphabet Stock Down 0.6 %
GOOGL stock opened at $117.47 on Monday. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The business’s 50 day moving average price is $155.27 and its two-hundred day moving average price is $138.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The company has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the company posted $27.26 EPS. As a group, analysts forecast that Alphabet Inc. will post 5.22 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. StockNews.com downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Moffett Nathanson decreased their target price on Alphabet to $132.50 in a research report on Thursday, May 26th. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, July 27th. UBS Group reduced their price target on Alphabet from $133.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Finally, Morgan Stanley lifted their price target on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.36.
Insiders Place Their Bets
In related news, Director Ann Mather sold 20 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ann Mather sold 20 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the purchase, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 42,352 shares of company stock worth $15,690,955. Company insiders own 11.44% of the company’s stock.
Alphabet Company Profile
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
See Also
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