Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,894 shares of the information services provider’s stock after purchasing an additional 1,629 shares during the quarter. Alphabet makes up approximately 1.2% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 14th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Alphabet were worth $65,555,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. Norges Bank acquired a new stake in Alphabet during the fourth quarter worth approximately $15,441,917,000. Capital Research Global Investors boosted its position in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Alphabet by 3.3% during the fourth quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after acquiring an additional 1,429,261 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. Evercore ISI decreased their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday. JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday. Argus lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Mizuho boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Up 0.3 %

GOOGL stock opened at $159.81 on Thursday. The firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a fifty day moving average price of $165.62 and a two-hundred day moving average price of $165.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the company earned $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,167 shares of company stock valued at $29,762,606. Company insiders own 11.55% of the company’s stock.

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.