Intact Investment Management Inc. Has $28.30 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Intact Investment Management Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 491.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 149,500 shares of the information services provider's stock after purchasing an additional 124,220 shares during the quarter. Alphabet makes up approximately 1.0% of Intact Investment Management Inc.'s holdings, making the stock its 26th biggest holding. Intact Investment Management Inc.'s holdings in Alphabet were worth $28,300,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GOOGL. Compass Planning Associates Inc acquired a new position in Alphabet during the 4th quarter worth $30,000. LMR Partners LLP bought a new position in shares of Alphabet in the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth approximately $39,000. Finally, PayPay Securities Corp grew its position in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company's stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,812 shares of company stock valued at $19,336,979. 11.55% of the stock is owned by company insiders.

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Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $7.91 during midday trading on Friday, hitting $154.33. 48,610,349 shares of the company's stock were exchanged, compared to its average volume of 27,276,841. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.88 trillion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The company's 50 day moving average price is $179.66 and its 200 day moving average price is $176.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Stifel Nicolaus boosted their price target on Alphabet from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 13th. JMP Securities restated a "market perform" rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reiterated a "neutral" rating and set a $205.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Finally, DZ Bank downgraded shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $210.59.

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.