Dixon Mitchell Investment Counsel Inc. Has $172.08 Million Position in Alphabet Inc. $GOOGL

Dixon Mitchell Investment Counsel Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 549,018 shares of the information services provider’s stock after purchasing an additional 1,933 shares during the quarter. Alphabet comprises approximately 5.7% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 2nd largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Alphabet were worth $172,081,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. PMV Capital Advisers LLC bought a new position in Alphabet during the 4th quarter worth approximately $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet during the 4th quarter worth approximately $38,000. Bard Associates Inc. bought a new position in Alphabet during the 4th quarter worth approximately $52,000. Kentucky Trust Co raised its holdings in Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Alphabet during the 3rd quarter worth approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $359.68 on Monday. The company has a fifty day simple moving average of $360.45 and a 200 day simple moving average of $330.34. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.36 trillion, a P/E ratio of 27.44, a PEG ratio of 1.54 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Sell-side analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.71%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOGL. President Capital raised their price target on shares of Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Arete Research raised their price target on shares of Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Rothschild & Co Redburn lifted their price objective on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Daiwa Securities Group lifted their price objective on shares of Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Loop Capital lifted their price objective on shares of Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $413.13.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the transaction, the chief executive officer directly owned 1,642,060 shares of the company’s stock, valued at $505,573,853.40. The trade was a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 191,966 shares of company stock worth $16,963,968. Company insiders own 11.61% of the company’s stock.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.