Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,457,850 shares of the information services provider’s stock after selling 4,878,033 shares during the quarter. Alphabet accounts for about 1.7% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings, making the stock its 6th biggest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.33% of Alphabet worth $6,709,934,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 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. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter worth about $32,000. Kings Path Partners LLC purchased a new stake in Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC purchased a new stake in Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP purchased a new stake in Alphabet during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday. JMP Securities lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Bank of America lifted their price target on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, KeyCorp lifted their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.03.

Alphabet Stock Performance

Shares of GOOGL opened at $185.17 on Wednesday. The business’s 50 day moving average is $169.70 and its two-hundred day moving average is $170.21. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The firm has a market cap of $2.27 trillion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.24 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. Analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date 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 10.61%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % 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 worth $34,244,676. 11.55% of the stock is currently owned by insiders.

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.