Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 5,740,792 shares of the information services provider’s stock after selling 326,905 shares during the period. Alphabet comprises about 1.4% of Mackenzie Financial Corp’s portfolio, making the stock its 12th largest holding. Mackenzie Financial Corp’s holdings in Alphabet were worth $1,086,732,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth $39,000. PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.4%

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

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group set a $195.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Susquehanna reduced their price target on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Roth Mkm reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. KeyCorp boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Sanford C. Bernstein boosted their price target on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock worth $26,793,380 over the last ninety days. 11.64% of the stock is currently owned by insiders.

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.