Unison Asset Management LLC Sells 79 Shares of Alphabet Inc. (NASDAQ:GOOG)

Unison Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,557 shares of the information services provider’s stock after selling 79 shares during the quarter. Unison Asset Management LLC’s holdings in Alphabet were worth $260,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Alphabet in the first quarter valued at approximately $1,378,708,000. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after purchasing an additional 2,500,621 shares during the period. Vima LLC lifted its holdings in Alphabet by 178,253.1% in the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after buying an additional 2,000,000 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in Alphabet by 6,610.0% in the second quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after buying an additional 1,742,794 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Alphabet by 27.8% in the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock valued at $1,375,512,000 after buying an additional 1,632,691 shares during the period. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction 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 owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the sale, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,673,866 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $168.00 on Monday. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 22.09, a PEG ratio of 1.16 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $169.10 and its 200 day moving average is $171.87. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.