Financiere des Professionnels Fonds d investissement inc. Acquires 36,150 Shares of Alphabet Inc. $GOOGL

Financiere des Professionnels Fonds d investissement inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 72.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,909 shares of the information services provider’s stock after buying an additional 36,150 shares during the quarter. Alphabet comprises about 1.4% of Financiere des Professionnels Fonds d investissement inc.’s holdings, making the stock its 14th largest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in Alphabet were worth $24,704,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EMC Capital Management purchased a new position in shares of Alphabet during the fourth quarter worth about $33,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet in the fourth quarter worth approximately $32,000. IFC & Insurance Marketing Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $52,000. Finally, Kentucky Trust Co lifted its position in Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $319.74 on Monday. The firm has a market cap of $3.87 trillion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a fifty-two week low of $187.82 and a fifty-two week high of $408.61. The firm has a 50 day moving average price of $362.93 and a 200-day moving average price of $338.90.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 17.59 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio is presently 4.42%.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is currently owned by insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Zacks Research raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $393.00 price objective on shares of Alphabet in a report on Thursday. Morgan Stanley set a $400.00 target price on shares of Alphabet and gave the stock an “overweight” rating in a research report on Thursday. China Renaissance increased their target price on Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Five research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $419.86.

View Our Latest Stock Analysis on GOOGL

About Alphabet

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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