Intact Investment Management Inc. Sells 43,700 Shares of Alphabet Inc. $GOOGL

Key Points

• Intact Investment Management cut its Alphabet stake by 38.1% in the fourth quarter, selling 43,700 shares and leaving it with 71,100 shares valued at about $22.25 million.
• Alphabet continues to attract major institutional interest, with large holders like Vanguard and Capital World Investors increasing positions, while institutions and hedge funds own 40.03% of the stock.
• Fundamentals and outlook remain strong: Alphabet beat Q1 earnings estimates, raised its quarterly dividend to $0.22, and analysts still rate the stock a Moderate Buy with a consensus target price of $412.65.

Intact Investment Management Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 38.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 71,100 shares of the information services provider's stock after selling 43,700 shares during the period. Intact Investment Management Inc.'s holdings in Alphabet were worth $22,254,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Berkshire Hathaway Inc bought a new position in shares of Alphabet in the third quarter valued at $4,338,397,000. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after buying an additional 12,531,695 shares in the last quarter. Capital World Investors lifted its stake in shares of Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after buying an additional 11,605,785 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Alphabet by 15.7% in the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock valued at $12,333,076,000 after buying an additional 6,874,381 shares in the last quarter. Finally, Mizuho Markets Cayman LP lifted its stake in shares of Alphabet by 23,402.1% in the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider's stock valued at $1,487,419,000 after buying an additional 6,092,513 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google's AI glasses and they're almost there
• Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
• Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
• Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total value of $9,859,850.00. Following the completion of the transaction, the chief executive officer owned 1,674,560 shares of the company's stock, valued at $508,028,012.80. The trade was a 1.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 226,481 shares of company stock worth $27,422,061. 11.61% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $382.97 on Friday. The company's 50 day moving average is $337.75 and its 200-day moving average is $321.26. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.64 trillion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Sell-side analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is presently 6.41%.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOGL shares. Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a research note on Thursday, April 30th. The Goldman Sachs Group raised their price objective on shares of Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Alphabet in a research note on Monday, May 4th. Wolfe Research dropped their price target on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating on the stock in a research report on Friday, April 10th. Finally, Freedom Capital lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $412.65.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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