Mackenzie Financial Corp trimmed its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 42.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,440 shares of the information services provider’s stock after selling 28,743 shares during the quarter. Mackenzie Financial Corp’s holdings in Alphabet were worth $37,430,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Odey Holdings AG grew its holdings in Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in Alphabet in the 3rd quarter valued at $126,000. Lloyds Banking Group plc purchased a new stake in Alphabet in the 2nd quarter valued at $133,000. Farmers National Bank grew its holdings in Alphabet by 3.3% in the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after buying an additional 5 shares in the last quarter. Finally, Hudock Capital Group LLC grew its holdings in Alphabet by 11.7% in the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock valued at $150,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 33.60% of the company’s stock.
Alphabet Inc (NASDAQ:GOOGL) opened at $1,095.50 on Monday. Alphabet Inc has a 12 month low of $824.30 and a 12 month high of $1,198.00. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $761,050.00, a PE ratio of 34.13, a P/E/G ratio of 1.13 and a beta of 0.95.
Alphabet declared that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Several analysts have issued reports on GOOGL shares. Goldman Sachs Group upped their target price on Alphabet from $1,125.00 to $1,175.00 in a report on Friday, October 27th. SunTrust Banks dropped their target price on Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Argus upped their target price on Alphabet to $1,300.00 in a report on Monday, February 5th. KeyCorp restated a “buy” rating and issued a $1,150.00 target price on shares of Alphabet in a report on Friday, October 27th. Finally, Barclays reiterated a “buy” rating and set a $1,260.00 price target on shares of Alphabet in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Alphabet has an average rating of “Buy” and a consensus price target of $1,157.02.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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