Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,280 shares of the information services provider’s stock after selling 600 shares during the quarter. Intact Investment Management Inc.’s holdings in Alphabet were worth $4,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Old North State Wealth Management LLC boosted its position in Alphabet by 52.6% during the 3rd quarter. Old North State Wealth Management LLC now owns 3,540 shares of the information services provider’s stock worth $588,000 after acquiring an additional 1,220 shares during the period. Kanawha Capital Management LLC raised its stake in shares of Alphabet by 1.0% during the third quarter. Kanawha Capital Management LLC now owns 153,088 shares of the information services provider’s stock valued at $25,390,000 after purchasing an additional 1,485 shares in the last quarter. KG&L Capital Management LLC lifted its holdings in Alphabet by 14.2% in the third quarter. KG&L Capital Management LLC now owns 72,237 shares of the information services provider’s stock worth $11,980,000 after purchasing an additional 8,984 shares during the period. Forum Financial Management LP grew its position in Alphabet by 2.2% in the 3rd quarter. Forum Financial Management LP now owns 74,404 shares of the information services provider’s stock valued at $12,340,000 after buying an additional 1,597 shares in the last quarter. Finally, Blue Square Asset Management LLC increased its stake in Alphabet by 4.5% during the 3rd quarter. Blue Square Asset Management LLC now owns 23,403 shares of the information services provider’s stock valued at $3,881,000 after buying an additional 1,001 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Tigress Financial upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. KeyCorp upped their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $172.49 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.11 trillion, a PE ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm’s 50 day moving average price is $165.61 and its 200 day moving average price is $170.13.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.