Mackenzie Financial Corp Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Mackenzie Financial Corp trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 694,967 shares of the information services provider’s stock after selling 26,779 shares during the period. Mackenzie Financial Corp’s holdings in Alphabet were worth $97,942,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GOOG. Tandem Wealth Advisors LLC purchased a new position in Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the 4th quarter valued at $26,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter valued at $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the 4th quarter valued at $28,000. Finally, Buck Wealth Strategies LLC purchased a new position in Alphabet during the 3rd quarter valued at $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ GOOG opened at $156.88 on Thursday. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 27.05, a PEG ratio of 1.44 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $147.15 and a 200-day moving average price of $141.61.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. Equities research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $159.86.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is owned by corporate insiders.

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.