National Bank of Canada FI Has $1.45 Billion Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

National Bank of Canada FI raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 91.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,928,470 shares of the information services provider’s stock after buying an additional 3,777,527 shares during the period. Alphabet comprises approximately 2.0% of National Bank of Canada FI’s holdings, making the stock its 7th largest position. National Bank of Canada FI owned approximately 0.06% of Alphabet worth $1,450,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. MorganRosel Wealth Management LLC grew its holdings in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its position in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC increased its holdings in shares of Alphabet by 1.0% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after buying an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. raised its position in shares of Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after buying an additional 65 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOGL shares. DA Davidson began coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Evercore ISI cut their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday. Piper Sandler decreased their price target on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Bank of America lifted their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $29,762,606 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $159.81 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.97 trillion, a P/E ratio of 24.51, a P/E/G ratio of 1.13 and a beta of 1.04. The business has a fifty day moving average of $165.62 and a two-hundred day moving average of $165.13. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business posted $1.44 EPS. On average, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Alphabet 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.