Itau Unibanco Holding S.A. Takes $5.32 Million Position in Alphabet Inc. $GOOG

Key Points

• Itau Unibanco Holding S.A. acquired a new stake in Alphabet Inc. worth approximately $5.32 million, purchasing 34,033 shares during the first quarter.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95%, reflecting a 0.4% annual yield for shareholders.
• Despite mixed analyst ratings, Alphabet's stock has seen a 13.8% year-over-year revenue growth, with an earnings per share (EPS) of $2.31 for the last quarter, exceeding expectations.

Itau Unibanco Holding S.A. bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,033 shares of the information services provider's stock, valued at approximately $5,317,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. JDM Financial Group LLC boosted its stake in Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after acquiring an additional 57 shares during the last quarter. NCM Capital Management LLC boosted its stake in Alphabet by 2.2% during the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock valued at $438,000 after acquiring an additional 60 shares during the last quarter. Objectivity Squared LLC boosted its stake in Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after acquiring an additional 62 shares during the last quarter. Tranquility Partners LLC boosted its stake in Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock valued at $2,263,000 after acquiring an additional 63 shares during the last quarter. Finally, Stonebridge Financial Group LLC boosted its stake in Alphabet by 0.6% during the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider's stock valued at $1,664,000 after acquiring an additional 64 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOG shares. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer reissued an "outperform" rating and set a $235.00 target price (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Five analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Stock Up 0.1%

Alphabet stock opened at $208.21 on Thursday. The stock has a market cap of $2.52 trillion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.40 and a beta of 1.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company's 50-day moving average price is $189.63 and its two-hundred day moving average price is $175.22. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $211.09.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 in the last 90 days. Corporate insiders own 12.99% of the company's stock.

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.

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