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

Intact Investment Management Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 18.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the information services provider’s stock after selling 1,800 shares during the period. Intact Investment Management Inc.’s holdings in Alphabet were worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB raised its stake in Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after purchasing an additional 51,226 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Alphabet by 5.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 276,409 shares of the information services provider’s stock valued at $46,213,000 after buying an additional 14,847 shares during the period. Lummis Asset Management LP boosted its position in Alphabet by 12.4% during the third quarter. Lummis Asset Management LP now owns 21,313 shares of the information services provider’s stock worth $3,563,000 after acquiring an additional 2,354 shares during the last quarter. Finally, Intelligence Driven Advisers LLC raised its holdings in Alphabet by 15.8% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 10,039 shares of the information services provider’s stock valued at $1,678,000 after acquiring an additional 1,370 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,882 shares of company stock worth $17,934,130 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $167.62 on Friday. The company has a market cap of $2.04 trillion, a P/E ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a one year low of $141.13 and a one year high of $208.70. The business’s 50-day simple moving average is $187.41 and its 200 day simple moving average is $177.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.