United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the third quarter, according to its most recent filing with the Securities and 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 about 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 position. 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 reporting period.

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

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. KeyCorp increased their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Truist Financial increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $169.23 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50-day moving average of $168.22 and a 200 day moving average of $170.34. The firm 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 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the business earned $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal 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 $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is 10.61%.

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.