Alphabet Inc. $GOOG is iA Global Asset Management Inc.’s 7th Largest Position

iA Global Asset Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 11.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 900,461 shares of the information services provider’s stock after acquiring an additional 92,015 shares during the period. Alphabet comprises approximately 2.4% of iA Global Asset Management Inc.’s holdings, making the stock its 7th biggest holding. iA Global Asset Management Inc.’s holdings in Alphabet were worth $159,733,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOG. IFS Advisors LLC boosted its holdings in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its holdings in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,442 shares of company stock worth $51,200,307 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOG shares. Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the company a “neutral” rating in a report on Thursday. Mizuho set a $325.00 price target on shares of Alphabet in a report on Thursday. Bank of America lifted their target price on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a report on Thursday. Finally, Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Performance

NASDAQ:GOOG opened at $284.12 on Tuesday. 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 market capitalization of $3.44 trillion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.86 and a beta of 1.00. The firm’s fifty day simple moving average is $246.09 and its 200 day simple moving average is $202.22. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

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.