Mcdonald Capital Investors Inc. CA Sells 6,985 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mcdonald Capital Investors Inc. CA reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,217 shares of the information services provider’s stock after selling 6,985 shares during the quarter. Alphabet comprises approximately 3.2% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its 14th largest position. Mcdonald Capital Investors Inc. CA’s holdings in Alphabet were worth $51,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Collaborative Wealth Managment Inc. purchased a new position in Alphabet in the fourth quarter worth about $213,000. Johnson Investment Counsel Inc. increased its position in shares of Alphabet by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 1,343,499 shares of the information services provider’s stock valued at $187,673,000 after acquiring an additional 30,212 shares in the last quarter. Strategic Advocates LLC increased its position in shares of Alphabet by 48.0% during the fourth quarter. Strategic Advocates LLC now owns 14,092 shares of the information services provider’s stock valued at $1,969,000 after acquiring an additional 4,571 shares in the last quarter. Invst LLC raised its holdings in Alphabet by 3.2% in the 4th quarter. Invst LLC now owns 24,479 shares of the information services provider’s stock worth $3,527,000 after acquiring an additional 753 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in Alphabet by 9.0% in the 4th quarter. QRG Capital Management Inc. now owns 812,598 shares of the information services provider’s stock valued at $113,512,000 after acquiring an additional 66,859 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’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 sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,367 shares of company stock valued at $30,016,931. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on GOOGL. UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Truist Financial upped their target price on shares of Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 11th. Finally, Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Stock Up 1.8 %

Shares of GOOGL opened at $157.46 on Monday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.94 trillion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business’s 50 day moving average is $167.46 and its 200 day moving average is $164.87.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

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.