UNIVEST FINANCIAL Corp Sells 1,119 Shares of Alphabet Inc. (NASDAQ:GOOGL)

UNIVEST FINANCIAL Corp lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 58,657 shares of the information services provider’s stock after selling 1,119 shares during the period. Alphabet makes up 3.0% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 5th largest holding. UNIVEST FINANCIAL Corp’s holdings in Alphabet were worth $10,684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter worth approximately $15,441,917,000. Capital Research Global Investors lifted its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Alphabet by 3.3% in the fourth quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock valued at $6,310,925,000 after buying an additional 1,429,261 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.9 %

GOOGL stock opened at $163.59 on Friday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $164.72 and a 200-day simple moving average of $165.32.

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

Alphabet Dividend Announcement

The firm also recently disclosed 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 was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Tigress Financial raised their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. Loop Capital reissued a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Cantor Fitzgerald began coverage on Alphabet in a research note on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price objective for the company. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.08.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock valued at $29,762,606 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.