BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $141.03 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 843,508 shares of the information services provider’s stock after selling 134,083 shares during the period. Alphabet makes up about 0.8% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s portfolio, making the stock its 22nd biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Alphabet were worth $141,026,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GOOG. Boston Partners increased its holdings in Alphabet by 21.2% in the 1st quarter. Boston Partners now owns 32,381 shares of the information services provider’s stock worth $4,930,000 after purchasing an additional 5,662 shares in the last quarter. GAMMA Investing LLC raised its holdings in Alphabet by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 53,976 shares of the information services provider’s stock valued at $9,900,000 after buying an additional 16,713 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Alphabet by 3.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 219,447 shares of the information services provider’s stock worth $40,251,000 after buying an additional 6,469 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its holdings in Alphabet by 1.7% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 112,504 shares of the information services provider’s stock worth $20,635,000 after acquiring an additional 1,831 shares during the last quarter. Finally, Marcum Wealth LLC raised its stake in shares of Alphabet by 3.6% during the second quarter. Marcum Wealth LLC now owns 17,726 shares of the information services provider’s stock valued at $3,251,000 after acquiring an additional 622 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOG shares. UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In other news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of NASDAQ:GOOG opened at $170.49 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The business’s 50 day simple moving average is $169.98 and its two-hundred day simple moving average is $171.84. The firm has a market cap of $2.09 trillion, a P/E ratio of 22.61, a PEG ratio of 1.19 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $1.55 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.