Addenda Capital Inc. Sells 119 Shares of Alphabet Inc. (NASDAQ:GOOG)

Addenda Capital Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 140,233 shares of the information services provider’s stock after selling 119 shares during the period. Alphabet makes up about 1.2% of Addenda Capital Inc.’s holdings, making the stock its 23rd largest holding. Addenda Capital Inc.’s holdings in Alphabet were worth $26,706,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. M&G PLC bought a new position in shares of Alphabet in the third quarter valued at approximately $2,240,000. Coldstream Capital Management Inc. boosted its holdings in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the period. Metis Global Partners LLC grew its stake in Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the last quarter. Stevens Capital Management LP raised its holdings in Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after acquiring an additional 57,810 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in shares of Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after purchasing an additional 5,892 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on GOOG shares. JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,387 shares of company stock worth $24,368,654. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.2 %

Shares of Alphabet stock opened at $200.03 on Thursday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The stock has a market capitalization of $2.45 trillion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company has a 50-day simple moving average of $186.56 and a 200 day simple moving average of $174.89. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company 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.