Alphabet Inc. (NASDAQ:GOOGL) Stake Trimmed by Fiera Capital Corp

Fiera Capital Corp lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,966,342 shares of the information services provider’s stock after selling 1,053,713 shares during the period. Alphabet accounts for 5.7% of Fiera Capital Corp’s investment portfolio, making the stock its 3rd biggest holding. Fiera Capital Corp owned approximately 0.08% of Alphabet worth $1,815,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth about $36,000. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GOOGL shares. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $196.00 price target on shares of Alphabet in a research report on Monday, September 16th. TD Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Stock Performance

Alphabet stock opened at $162.08 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.00 trillion, a P/E ratio of 24.92, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50 day moving average is $161.62 and its 200 day moving average is $167.57.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the business posted $1.44 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,092 shares of company stock valued at $35,644,136. 11.55% of the stock is owned by insiders.

Alphabet 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.