Alphabet Inc. (NASDAQ:GOOGL) is National Bank of Canada FI’s 6th Largest Position

National Bank of Canada FI boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 26.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,064,598 shares of the information services provider’s stock after purchasing an additional 2,136,128 shares during the quarter. Alphabet comprises approximately 1.9% of National Bank of Canada FI’s investment portfolio, making the stock its 6th largest position. National Bank of Canada FI’s holdings in Alphabet were worth $1,669,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP acquired a new position in Alphabet during the third quarter worth $32,000. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter valued at $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet in the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the transaction, the insider now directly owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock valued at $34,413,006 over the last ninety days. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Loop Capital lifted their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOGL opened at $189.82 on Monday. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61. The company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $171.63 and a two-hundred day moving average of $170.63.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the company posted $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend payout ratio is currently 10.61%.

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.