Kornitzer Capital Management Inc. KS Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kornitzer Capital Management Inc. KS raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,810 shares of the information services provider’s stock after buying an additional 1,916 shares during the quarter. Alphabet comprises about 1.1% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 15th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Alphabet were worth $60,006,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC lifted its stake in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC lifted its position in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. raised its stake in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on GOOGL shares. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America upped their price objective on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

NASDAQ GOOGL opened at $175.98 on Thursday. The company has a market cap of $2.15 trillion, a P/E ratio of 23.34, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a fifty day simple moving average of $167.23 and a 200 day simple moving average of $170.40.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is 10.61%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,295 shares of company stock worth $30,698,791 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.