Alphabet Inc. $GOOGL is Candriam S.C.A.'s 4th Largest Position

Key Points

• Candriam S.C.A. has reduced its stake in Alphabet Inc. by 3.5%, selling 97,812 shares and now holding approximately 2.67 million shares valued at $412.36 million.
• Insider trading activity includes CEO Sundar Pichai selling 32,500 shares for $5.80 million, representing a 1.25% decrease in his ownership.
• The firm recently announced a quarterly dividend of $0.21 per share, reflecting an annual yield of 0.4% and a low dividend payout ratio of 8.95%.

Candriam S.C.A. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,666,581 shares of the information services provider's stock after selling 97,812 shares during the period. Alphabet makes up approximately 2.6% of Candriam S.C.A.'s portfolio, making the stock its 4th largest position. Candriam S.C.A.'s holdings in Alphabet were worth $412,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $39,000. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of analyst reports. Loop Capital restated a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday. Bank of America boosted their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Citigroup boosted their price target on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Alphabet Trading Up 1.2%

NASDAQ:GOOGL traded up $2.40 during mid-day trading on Monday, hitting $208.49. 29,895,767 shares of the stock traded hands, compared to its average volume of 31,370,868. The stock has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $210.52. The firm's 50 day moving average is $187.44 and its two-hundred day moving average is $173.28. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 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 the consensus estimate 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 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock valued at $47,223,172 in the last quarter. Corporate insiders own 11.55% of the company's stock.

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.