Northwest & Ethical Investments L.P. Has $27.69 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Northwest & Ethical Investments L.P. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,925 shares of the information services provider’s stock after selling 64,164 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Alphabet were worth $27,685,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP bought a new position in shares of Alphabet during the 3rd quarter worth about $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP bought a new position in shares of Alphabet during the 2nd quarter worth about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOGL opened at $185.17 on Wednesday. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.27 trillion, a P/E ratio of 24.56, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a fifty day moving average of $169.70 and a 200-day moving average of $170.21.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock worth $34,244,676 over the last 90 days. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Sanford C. Bernstein increased their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Finally, KeyCorp raised their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.03.

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.