Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,880 shares of the information services provider’s stock after selling 1,120 shares during the period. Intact Investment Management Inc.’s holdings in Alphabet were worth $4,714,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Holistic Financial Partners boosted its holdings in Alphabet by 11.2% during the second quarter. Holistic Financial Partners now owns 3,186 shares of the information services provider’s stock valued at $580,000 after acquiring an additional 321 shares during the period. Americana Partners LLC boosted its holdings in Alphabet by 2.8% during the second quarter. Americana Partners LLC now owns 101,753 shares of the information services provider’s stock valued at $18,534,000 after acquiring an additional 2,769 shares during the period. ESG Planning DBA Harper Investing boosted its holdings in Alphabet by 113.7% during the second quarter. ESG Planning DBA Harper Investing now owns 16,620 shares of the information services provider’s stock valued at $3,027,000 after acquiring an additional 8,841 shares during the period. Jaffetilchin Investment Partners LLC boosted its holdings in Alphabet by 0.8% during the second quarter. Jaffetilchin Investment Partners LLC now owns 79,438 shares of the information services provider’s stock valued at $14,470,000 after acquiring an additional 650 shares during the period. Finally, Foster Group Inc. boosted its holdings in Alphabet by 5.2% during the second quarter. Foster Group Inc. now owns 22,834 shares of the information services provider’s stock valued at $4,159,000 after acquiring an additional 1,127 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 179,367 shares of company stock valued at $30,016,931 over the last three months. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOGL. Stifel Nicolaus restated a “buy” rating and set a $196.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Piper Sandler cut their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Price Performance

Shares of Alphabet stock opened at $151.16 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm’s 50-day moving average price is $168.75 and its two-hundred day moving average price is $164.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.