Waratah Capital Advisors Ltd. Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Waratah Capital Advisors Ltd. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 75.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,655 shares of the information services provider’s stock after selling 426,542 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Alphabet were worth $12,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Alphabet by 1,896.9% in the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after buying an additional 55,153,448 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now owns 25,442 shares in the company, valued at approximately $2,293,596.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares in the company, valued at $2,293,596.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $125.00, for a total transaction of $100,000.00. Following the sale, the director now owns 5,940 shares of the company’s stock, valued at $742,500. The disclosure for this sale can be found here. In the last quarter, insiders bought 732,217 shares of company stock worth $21,135,371 and sold 753,384 shares worth $30,574,577. 0.88% of the stock is owned by insiders.

Alphabet Price Performance

Shares of GOOGL opened at $123.48 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $126.43. The company has a market cap of $1.57 trillion, a P/E ratio of 27.50, a PEG ratio of 1.54 and a beta of 1.10. The firm’s 50 day moving average price is $108.64 and its 200 day moving average price is $99.13.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the prior year, the business posted $1.23 EPS. On average, research analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GOOGL shares. Truist Financial lifted their price objective on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Citigroup lifted their price objective on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Robert W. Baird lifted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Piper Sandler lifted their price objective on shares of Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Finally, Wolfe Research lifted their price objective on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.56.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.