Bank of Nova Scotia Purchases 385,773 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bank of Nova Scotia raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 32.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,581,965 shares of the information services provider’s stock after buying an additional 385,773 shares during the quarter. Bank of Nova Scotia’s holdings in Alphabet were worth $139,588,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. VitalStone Financial LLC bought a new position in Alphabet in the 4th quarter valued at about $25,000. Laurel Wealth Planning LLC lifted its position in Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares in the last quarter. Coston McIsaac & Partners lifted its position in Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 304 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Alphabet in the 4th quarter valued at about $33,000. Finally, TFO TDC LLC lifted its position in Alphabet by 952.6% in the 3rd quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 362 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. Evercore ISI increased their price objective on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Credit Suisse Group decreased their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, April 26th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, Oppenheimer increased their price objective on shares of Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $122.76 on Monday. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a 50-day moving average price of $106.43 and a 200-day moving average price of $98.26. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $125.97.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the firm posted $1.23 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $12.77, for a total value of $191,550.00. Following the completion of the transaction, the insider now directly owns 10,735,324 shares of the company’s stock, valued at $137,090,087.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $120.01, for a total value of $9,000,750.00. Following the sale, the director now owns 32,240 shares in the company, valued at $3,869,122.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00. Following the completion of the sale, the insider now owns 10,735,324 shares in the company, valued at approximately $137,090,087.48. The disclosure for this sale can be found here. Over the last three months, insiders purchased 732,217 shares of company stock valued at $21,135,371 and sold 601,450 shares valued at $28,354,856. 0.88% of the stock is owned by 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.