Alphabet Inc. (NASDAQ:GOOG) Stock Position Lowered by Addenda Capital Inc.

Addenda Capital Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,612 shares of the information services provider’s stock after selling 7,910 shares during the quarter. Alphabet accounts for approximately 1.0% of Addenda Capital Inc.’s investment portfolio, making the stock its 28th largest position. Addenda Capital Inc.’s holdings in Alphabet were worth $21,105,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Capital Asset Advisory Services LLC lifted its position in shares of Alphabet by 2.9% during the 1st quarter. Capital Asset Advisory Services LLC now owns 62,959 shares of the information services provider’s stock valued at $9,692,000 after acquiring an additional 1,796 shares during the last quarter. Indiana Trust & Investment Management CO lifted its holdings in shares of Alphabet by 11.3% during the first quarter. Indiana Trust & Investment Management CO now owns 7,447 shares of the information services provider’s stock valued at $1,134,000 after purchasing an additional 754 shares during the last quarter. Howard Financial Services LTD. boosted its position in shares of Alphabet by 1.6% in the 1st quarter. Howard Financial Services LTD. now owns 5,027 shares of the information services provider’s stock valued at $765,000 after purchasing an additional 81 shares during the period. Courier Capital LLC increased its stake in Alphabet by 0.7% in the 1st quarter. Courier Capital LLC now owns 92,502 shares of the information services provider’s stock worth $14,084,000 after purchasing an additional 636 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Alphabet by 46.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 21,531 shares of the information services provider’s stock worth $3,278,000 after buying an additional 6,831 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $167.86.

Alphabet Stock Performance

Shares of GOOG stock traded down $3.44 during trading hours on Friday, reaching $183.42. 23,020,275 shares of the company’s stock were exchanged, compared to its average volume of 21,313,381. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 28.13, a P/E/G ratio of 1.39 and a beta of 1.01. The business has a fifty day moving average price of $174.40 and a 200-day moving average price of $155.53.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock valued at $24,534,393 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.