United Services Automobile Association Sells 32,403 Shares of Alphabet Inc. (NASDAQ:GOOGL)

United Services Automobile Association lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.6% during the third quarter, HoldingsChannel reports. The fund owned 133,182 shares of the information services provider’s stock after selling 32,403 shares during the quarter. United Services Automobile Association’s holdings in Alphabet were worth $22,088,000 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. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. LMR Partners LLP acquired a new stake in Alphabet in the third quarter valued at $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter valued at $36,000. Denver PWM LLC bought a new position in Alphabet during the 2nd quarter worth $41,000. Finally, Quarry LP acquired a new position in Alphabet during the 2nd quarter worth about $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $189.82 on Monday. 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 stock’s fifty day simple moving average is $171.63 and its two-hundred day simple moving average is $170.63. Alphabet Inc. has a 1-year low of $129.68 and a 1-year high of $195.61. The stock has a market cap of $2.32 trillion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock valued at $34,413,006 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Loop Capital boosted their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, KeyCorp lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.08.

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.