iA Global Asset Management Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

iA Global Asset Management Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 834,830 shares of the information services provider’s stock after buying an additional 52,115 shares during the quarter. Alphabet makes up about 2.2% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 8th biggest position. iA Global Asset Management Inc.’s holdings in Alphabet were worth $129,098,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $201.00 on Tuesday. The stock has a market capitalization of $2.43 trillion, a PE ratio of 21.41, a PEG ratio of 1.36 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $181.53 and a 200-day moving average of $172.81. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,219 shares of company stock valued at $49,674,273. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. Truist Financial restated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Wedbush increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Bank of America increased their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 24th. UBS Group increased their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.53.

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.