Mawer Investment Management Ltd. Sells 54,421 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mawer Investment Management Ltd. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,985,872 shares of the information services provider’s stock after selling 54,421 shares during the period. Alphabet accounts for about 4.6% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 5th biggest holding. Mawer Investment Management Ltd.’s holdings in Alphabet were worth $1,000,778,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC lifted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter valued at $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. increased its position in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP purchased a new position in Alphabet in the second quarter valued at about $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.6 %

GOOG opened at $174.98 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The business’s fifty day moving average is $167.01 and its two-hundred day moving average is $171.74. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Company 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.