Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 57.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 785,083 shares of the information services provider’s stock after selling 1,080,848 shares during the period. Alphabet makes up approximately 2.3% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. iA Global Asset Management Inc.’s holdings in Alphabet were worth $130,206,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP acquired a new stake in Alphabet during the third quarter valued at $32,000. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new position in Alphabet in the 2nd quarter worth about $41,000. Finally, Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter worth about $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOGL shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Morgan Stanley raised their price target on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’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 transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock worth $34,413,006 in the last quarter. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $189.82 on Monday. The firm has a 50 day simple moving average of $171.63 and a 200 day simple moving average of $170.63. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $195.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

About Alphabet

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.