Unigestion Holding SA Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Unigestion Holding SA reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 28.2% during the third quarter, Holdings Channel reports. The firm owned 8,127 shares of the information services provider’s stock after selling 3,195 shares during the quarter. Unigestion Holding SA’s holdings in Alphabet were worth $1,359,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Weiss Asset Management LP bought a new position in Alphabet in the third quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $33,000. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter valued at approximately $37,000. Finally, HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter valued at approximately $40,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOG. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citigroup boosted their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five 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. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,923 shares of company stock valued at $34,244,676. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 5.3 %

Shares of GOOG stock opened at $186.53 on Wednesday. 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 12 month low of $131.06 and a 12 month high of $193.31. The stock has a market cap of $2.28 trillion, a P/E ratio of 24.74, a P/E/G ratio of 1.23 and a beta of 1.02. The company has a 50 day simple moving average of $171.26 and a two-hundred day simple moving average of $171.73.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The business 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.