Healthcare of Ontario Pension Plan Trust Fund Sells 411 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,149 shares of the information services provider’s stock after selling 411 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Alphabet were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Polen Capital Management LLC grew its stake in shares of Alphabet by 1,896.1% during the 3rd quarter. Polen Capital Management LLC now owns 28,471,359 shares of the information services provider’s stock worth $2,737,521,000 after acquiring an additional 27,045,038 shares during the period. Jennison Associates LLC lifted its holdings in Alphabet by 1,736.4% during the 3rd quarter. Jennison Associates LLC now owns 23,253,198 shares of the information services provider’s stock worth $2,235,795,000 after purchasing an additional 21,986,989 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Alphabet by 1,872.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after purchasing an additional 17,365,189 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Alphabet by 1,863.4% during the 3rd quarter. TD Asset Management Inc. now owns 16,524,239 shares of the information services provider’s stock worth $1,620,863,000 after purchasing an additional 15,682,616 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Alphabet by 1,966.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,818,151 shares of the information services provider’s stock worth $1,424,954,000 after purchasing an additional 14,101,177 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada set a $130.00 price objective on Alphabet in a report on Friday, February 3rd. Raymond James raised their price target on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price target on Alphabet in a report on Thursday, February 9th. Credit Suisse Group set a $136.00 price target on Alphabet in a report on Friday, February 3rd. Finally, Cowen lowered their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.13.

Alphabet Stock Performance

GOOG opened at $90.51 on Thursday. The firm has a market cap of $1.16 trillion, a P/E ratio of 19.89, a PEG ratio of 1.24 and a beta of 1.08. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $144.16. The company has a 50 day simple moving average of $94.13 and a two-hundred day simple moving average of $98.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 earnings per share. Equities analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,745 shares of company stock valued at $3,424,078. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

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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.