Desjardins Global Asset Management Inc. Sells 11,745 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Desjardins Global Asset Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,399 shares of the information services provider’s stock after selling 11,745 shares during the period. Alphabet accounts for 1.0% of Desjardins Global Asset Management Inc.’s investment portfolio, making the stock its 15th biggest position. Desjardins Global Asset Management Inc.’s holdings in Alphabet were worth $9,276,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Capital City Trust Co. FL increased its position in shares of Alphabet by 4.0% in the third quarter. Capital City Trust Co. FL now owns 64,256 shares of the information services provider’s stock worth $8,409,000 after purchasing an additional 2,443 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its holdings in shares of Alphabet by 16.1% in the 3rd quarter. CHURCHILL MANAGEMENT Corp now owns 250,079 shares of the information services provider’s stock worth $32,725,000 after buying an additional 34,619 shares during the last quarter. Northwest Investment Counselors LLC raised its position in shares of Alphabet by 1.7% during the 3rd quarter. Northwest Investment Counselors LLC now owns 16,043 shares of the information services provider’s stock valued at $2,099,000 after buying an additional 271 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in shares of Alphabet by 29.9% during the 3rd quarter. Toth Financial Advisory Corp now owns 66,448 shares of the information services provider’s stock worth $8,695,000 after acquiring an additional 15,282 shares during the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in Alphabet in the third quarter worth $13,487,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. KeyCorp raised their price target on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Wolfe Research increased their price target on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Roth Mkm lowered their price objective on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Redburn Atlantic increased their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $158.71.

Alphabet Stock Up 1.3 %

Shares of Alphabet stock opened at $158.26 on Wednesday. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.42 and a beta of 1.05. The company has a 50-day moving average of $146.69 and a 200 day moving average of $140.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 48,076 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the sale, the insider now owns 12,725 shares in the company, valued at approximately $1,809,495. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

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.