Baskin Financial Services Inc. Has $60.68 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Baskin Financial Services Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,957 shares of the information services provider’s stock after selling 483 shares during the quarter. Alphabet accounts for approximately 5.0% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 4th biggest holding. Baskin Financial Services Inc.’s holdings in Alphabet were worth $60,683,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the second quarter worth about $37,000. HWG Holdings LP bought a new stake in Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet in the second quarter valued at approximately $44,000. Finally, Hoese & Co LLP grew its stake in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 in the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOG. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. UBS Group dropped their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $166.74 on Thursday. The firm has a market cap of $2.06 trillion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business’s 50 day moving average is $163.17 and its 200-day moving average is $169.55. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

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.