Baskin Financial Services Inc. Sells 483 Shares of Alphabet Inc. (NASDAQ:GOOG)

Baskin Financial Services Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 362,957 shares of the information services provider’s stock after selling 483 shares during the quarter. Alphabet accounts for approximately 5.0% of Baskin Financial Services Inc.’s holdings, making the stock its 4th biggest holding. Baskin Financial Services Inc.’s holdings in Alphabet were worth $60,683,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter worth $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter worth $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter valued at $44,000. Finally, Hoese & Co LLP raised its holdings in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.1 %

Alphabet stock opened at $166.74 on Thursday. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.21 and a beta of 1.04. The company’s 50 day simple moving average is $163.17 and its 200 day simple moving average is $169.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Finally, Oppenheimer decreased their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

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.