Itau Unibanco Holding S.A. Decreases Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Itau Unibanco Holding S.A. significantly reduced its stake in Alphabet Inc. by 71.1%, selling 115,453 shares and leaving it with 46,993 shares valued at $7.27 million.
• Alphabet is set to pay a quarterly dividend of $0.21 per share on September 15th, with a current dividend yield of 0.4%.
• Alphabet's latest earnings report disclosed a net revenue of $96.43 billion and earnings per share of $2.31, surpassing analyst expectations.

Itau Unibanco Holding S.A. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 71.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,993 shares of the information services provider's stock after selling 115,453 shares during the period. Itau Unibanco Holding S.A.'s holdings in Alphabet were worth $7,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Eagle Capital Management LLC boosted its position in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Highview Capital Management LLC DE boosted its position in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Legacy Investment Solutions LLC boosted its position in shares of Alphabet by 13.7% during the 4th quarter. Legacy Investment Solutions LLC now owns 980 shares of the information services provider's stock valued at $182,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 0.6%

Shares of Alphabet stock traded up $1.27 on Friday, hitting $212.91. The company had a trading volume of 39,702,089 shares, compared to its average volume of 29,138,272. The stock has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $214.65. The stock has a 50 day moving average of $190.44 and a 200-day moving average of $173.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. DA Davidson increased their price target on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Stifel Nicolaus increased their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Finally, Piper Sandler increased their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,710 shares of company stock valued at $47,225,230. 11.55% of the stock is owned by company 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.