Impax Asset Management Group plc Sells 4,898 Shares of Alphabet Inc. (NASDAQ:GOOG)

Impax Asset Management Group plc trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,747 shares of the information services provider’s stock after selling 4,898 shares during the period. Impax Asset Management Group plc’s holdings in Alphabet were worth $2,298,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. M&G PLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $2,240,000. Colonial River Wealth Management LLC lifted its position in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after buying an additional 4,292 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after buying an additional 5,892 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 35.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $173.89 on Friday. The firm’s 50 day simple moving average is $167.01 and its 200 day simple moving average is $171.70. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the company earned $1.55 EPS. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Alphabet 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.