United Services Automobile Association Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

United Services Automobile Association lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,477 shares of the information services provider’s stock after selling 4,180 shares during the quarter. United Services Automobile Association’s holdings in Alphabet were worth $25,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $34,000. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter valued at $37,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet during the 2nd quarter valued at $44,000. Hoese & Co LLP grew its stake in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC purchased a new stake in Alphabet in the 2nd quarter worth about $48,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Finally, Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Stock Up 1.4 %

GOOG opened at $152.15 on Thursday. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a fifty day moving average price of $170.36 and a 200-day moving average price of $165.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock worth $34,218,581 over the last three months. 12.99% of the stock is 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.