Triasima Portfolio Management inc. Purchases 8,511 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Triasima Portfolio Management inc. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 30.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,108 shares of the information services provider’s stock after purchasing an additional 8,511 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Alphabet were worth $6,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of GOOGL. Capital Research Global Investors boosted its position in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. boosted its position in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. PineStone Asset Management Inc. boosted its position in shares of Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Alphabet by 91.0% during the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock worth $1,450,599,000 after acquiring an additional 3,777,527 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.9 %

NASDAQ:GOOGL opened at $163.59 on Monday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50-day simple moving average is $164.72 and its 200-day simple moving average is $165.79.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the business earned $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. TD Securities upped their target price on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Citigroup upped their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald initiated coverage on shares of Alphabet in a research report on Thursday, September 5th. They set a “neutral” rating and a $190.00 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $196.00 price target on shares of Alphabet in a research note on Monday, September 16th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock valued at $29,762,606 in the last three months. 11.55% of the stock is owned by insiders.

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.