Unison Asset Management LLC Sells 24,010 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Unison Asset Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,486 shares of the information services provider’s stock after selling 24,010 shares during the period. Alphabet comprises about 10.1% of Unison Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Unison Asset Management LLC’s holdings in Alphabet were worth $19,943,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth $36,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the fourth quarter valued at $30,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $159.81 on Thursday. The company has a market capitalization of $1.97 trillion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a 50 day moving average price of $165.62 and a 200 day moving average price of $165.13.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. Research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction 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 approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,167 shares of company stock valued at $29,762,606. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOGL. Tigress Financial raised their price target on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Cantor Fitzgerald initiated coverage on Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price on the stock. Royal Bank of Canada lifted their price target on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group increased their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Piper Sandler lowered their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

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.