United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Sells 50,551 Shares of Alphabet Inc. (NASDAQ:GOOGL)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 934,900 shares of the information services provider’s stock after selling 50,551 shares during the period. Alphabet makes up 6.2% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings, making the stock its 2nd biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Alphabet were worth $155,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Mizuho Securities Co. Ltd. increased its stake in Alphabet by 332.5% in the third quarter. Mizuho Securities Co. Ltd. now owns 9,040 shares of the information services provider’s stock valued at $1,499,000 after purchasing an additional 6,950 shares in the last quarter. Main Street Financial Solutions LLC increased its stake in Alphabet by 4.2% in the third quarter. Main Street Financial Solutions LLC now owns 16,538 shares of the information services provider’s stock valued at $2,743,000 after purchasing an additional 659 shares in the last quarter. Schrum Private Wealth Management LLC increased its stake in Alphabet by 16.2% in the third quarter. Schrum Private Wealth Management LLC now owns 3,048 shares of the information services provider’s stock valued at $505,000 after purchasing an additional 425 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its stake in Alphabet by 18.5% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 29,612 shares of the information services provider’s stock valued at $4,911,000 after purchasing an additional 4,630 shares in the last quarter. Finally, Kovack Advisors Inc. increased its stake in Alphabet by 4.7% in the third quarter. Kovack Advisors Inc. now owns 90,521 shares of the information services provider’s stock valued at $15,013,000 after purchasing an additional 4,037 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. KeyCorp lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Up 0.1 %

GOOGL opened at $169.23 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company’s 50-day moving average price is $168.22 and its two-hundred day moving average price is $170.34.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by corporate insiders.

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.