Healthcare of Ontario Pension Plan Trust Fund Has $58.89 Million Position in Alphabet Inc (NASDAQ:GOOG)

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Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 57.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 50,642 shares of the information services provider’s stock after buying an additional 18,386 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Alphabet were worth $58,887,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Lighthouse Financial Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $25,000. Cox Capital Mgt LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $27,000. Cedar Mountain Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $43,000. Cordasco Financial Network lifted its stake in shares of Alphabet by 32.1% in the 1st quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 9 shares during the period. Finally, HighMark Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $44,000. 33.00% of the stock is currently owned by institutional investors.

A number of research analysts have recently issued reports on GOOG shares. BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. Nomura Securities boosted their target price on Alphabet from $1,560.00 to $1,680.00 in a research report on Tuesday, February 4th. Raymond James decreased their target price on Alphabet from $1,580.00 to $1,425.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. They noted that the move was a valuation call. Pivotal Research boosted their target price on Alphabet from $1,425.00 to $1,575.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Citigroup boosted their target price on Alphabet from $1,500.00 to $1,700.00 and gave the company a “positive” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,580.52.

In related news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total value of $81,816.60. Following the transaction, the director now owns 592 shares in the company, valued at $807,257.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 61 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $1,098.26, for a total value of $66,993.86. Following the sale, the chief accounting officer now owns 388 shares in the company, valued at approximately $426,124.88. The disclosure for this sale can be found here. Insiders sold a total of 294 shares of company stock worth $367,821 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Shares of NASDAQ GOOG traded up $2.90 during midday trading on Monday, reaching $1,431.82. The company’s stock had a trading volume of 919,471 shares, compared to its average volume of 1,490,917. Alphabet Inc has a 12-month low of $1,013.54 and a 12-month high of $1,532.11. The firm has a 50 day moving average price of $1,324.33 and a 200-day moving average price of $1,336.35. The stock has a market capitalization of $975.41 billion, a P/E ratio of 28.92, a PEG ratio of 2.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The business had revenue of $41.16 billion during the quarter, compared to analysts’ expectations of $40.29 billion. During the same quarter in the previous year, the firm earned $9.50 EPS. Alphabet’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc will post 41.47 EPS for the current year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Further Reading: Margin

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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