Intact Investment Management Inc. Buys 3,500 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Intact Investment Management Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 153,000 shares of the information services provider's stock after purchasing an additional 3,500 shares during the period. Intact Investment Management Inc.'s holdings in Alphabet were worth $23,660,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GOOGL. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $24,383,677,000. FMR LLC grew its position in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its position in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its position in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock traded up $3.91 on Wednesday, hitting $170.68. The company's stock had a trading volume of 34,362,685 shares, compared to its average volume of 30,801,769. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The firm has a market cap of $2.07 trillion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01. 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 fifty day moving average price of $165.10 and a 200-day moving average price of $174.61.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at $413,555,306.40. The trade was a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock valued at $37,745,632 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. Rosenblatt Securities reissued a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Finally, Wedbush set a $190.00 target price on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $200.17.

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.