iA Global Asset Management Inc. Sells 1,080,848 Shares of Alphabet Inc. (NASDAQ:GOOGL)

iA Global Asset Management Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 57.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 785,083 shares of the information services provider’s stock after selling 1,080,848 shares during the quarter. Alphabet makes up 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 and other institutional investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its position in shares of Alphabet by 19.3% in the third quarter. EP Wealth Advisors LLC now owns 1,036,909 shares of the information services provider’s stock valued at $171,971,000 after acquiring an additional 167,739 shares in the last quarter. Insigneo Advisory Services LLC raised its stake in Alphabet by 1.1% in the 3rd quarter. Insigneo Advisory Services LLC now owns 96,319 shares of the information services provider’s stock valued at $15,975,000 after purchasing an additional 1,045 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in Alphabet by 25.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,049,980 shares of the information services provider’s stock valued at $159,156,000 after purchasing an additional 215,469 shares during the last quarter. Virtus Investment Advisers Inc. lifted its holdings in Alphabet by 13.2% in the 3rd quarter. Virtus Investment Advisers Inc. now owns 4,960 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 580 shares in the last quarter. Finally, Voyager Global Management LP boosted its stake in shares of Alphabet by 55.9% during the 3rd quarter. Voyager Global Management LP now owns 2,650,000 shares of the information services provider’s stock worth $439,502,000 after purchasing an additional 950,000 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $189.82 on Monday. The firm has a fifty day moving average of $171.63 and a 200-day moving average of $170.63. The company has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In related news, 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 value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the sale, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock worth $34,413,006 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Piper Sandler restated an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley raised their price target on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Roth Mkm upped their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday. Seven 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.08.

Alphabet 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.