Alphabet Inc. (NASDAQ:GOOGL) is Fiera Capital Corp’s 3rd Largest Position

Fiera Capital Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 9,880,799 shares of the information services provider’s stock after selling 85,543 shares during the quarter. Alphabet accounts for about 4.9% of Fiera Capital Corp’s investment portfolio, making the stock its 3rd largest holding. Fiera Capital Corp’s holdings in Alphabet were worth $1,638,731,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors raised its position in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp raised its position in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors raised its position in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after purchasing an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JMP Securities increased their price target on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Piper Sandler reissued an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Seven equities 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’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $167.83 on Friday. The firm has a market cap of $2.05 trillion, a PE ratio of 22.26, a PEG ratio of 1.27 and a beta of 1.03. 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 Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a fifty day moving average price of $167.50 and a 200 day moving average price of $170.38.

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

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade 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 the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % 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. Corporate 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.