Alphabet Inc. $GOOG Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 900,461 shares of the information services provider’s stock after purchasing an additional 92,015 shares during the period. Alphabet accounts for approximately 2.4% of iA Global Asset Management Inc.’s portfolio, making the stock its 7th largest position. iA Global Asset Management Inc.’s holdings in Alphabet were worth $159,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its stake in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new position in Alphabet in the first quarter valued at $2,622,943,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new position in Alphabet in the first quarter valued at $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. HSBC restated a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a research note on Thursday. Wolfe Research increased their target price on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 target price on shares of Alphabet in a research note on Thursday. Piper Sandler increased their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $284.12 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.44 trillion, a P/E ratio of 28.02, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The company has a 50-day moving average price of $246.09 and a 200 day moving average price of $202.22.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 222,442 shares of company stock worth $51,200,307. 12.99% of the stock is currently owned by company insiders.

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.