Fiera Capital Corp Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Fiera Capital Corp cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,880,799 shares of the information services provider’s stock after selling 85,543 shares during the quarter. Alphabet makes up about 4.9% of Fiera Capital Corp’s portfolio, making the stock its 3rd largest position. Fiera Capital Corp owned approximately 0.08% of Alphabet worth $1,638,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after purchasing an additional 41,880 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Midwest Professional Planners LTD. raised its holdings in shares of Alphabet by 42.8% in the first quarter. Midwest Professional Planners LTD. now owns 5,598 shares of the information services provider’s stock valued at $845,000 after purchasing an additional 1,679 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in Alphabet by 2.0% during the first quarter. HBK Sorce Advisory LLC now owns 61,152 shares of the information services provider’s stock worth $9,230,000 after buying an additional 1,202 shares during the last quarter. Finally, Maple Capital Management Inc. increased its holdings in Alphabet by 6.8% during the first quarter. Maple Capital Management Inc. now owns 8,216 shares of the information services provider’s stock worth $1,240,000 after buying an additional 524 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 4.6 %

NASDAQ:GOOGL opened at $167.83 on Friday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The stock has a fifty day simple moving average of $167.50 and a 200-day simple moving average of $170.38. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company earned $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOGL shares. Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last quarter. Insiders own 11.55% of the company’s stock.

About Alphabet

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.