Financiere des Professionnels Fonds d investissement inc. Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Financiere des Professionnels Fonds d investissement inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 48.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,960 shares of the information services provider's stock after selling 36,654 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Alphabet were worth $6,025,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GOOGL. Traveka Wealth LLC boosted its stake in Alphabet by 10.0% in the 1st quarter. Traveka Wealth LLC now owns 22,550 shares of the information services provider's stock worth $3,487,000 after purchasing an additional 2,058 shares during the period. Cloud Capital Management LLC bought a new position in Alphabet in the 1st quarter worth about $259,000. Forte Asset Management LLC bought a new position in Alphabet in the 1st quarter worth about $578,000. Argentarii LLC boosted its stake in Alphabet by 3.5% in the 1st quarter. Argentarii LLC now owns 43,089 shares of the information services provider's stock worth $6,663,000 after purchasing an additional 1,448 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in Alphabet by 1.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 22,722 shares of the information services provider's stock worth $3,514,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 over the last ninety days. Company insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GOOGL shares. Piper Sandler raised their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Susquehanna cut their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their target price on Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Roth Mkm reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $199.61.

Alphabet Price Performance

Shares of Alphabet stock opened at $180.19 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.19 trillion, a PE ratio of 20.09, a P/E/G ratio of 1.27 and a beta of 1.00. The business has a 50 day moving average of $170.32 and a 200 day moving average of $173.31. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

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.

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