Union Bancaire Privee UBP SA Has $157.58 Million Holdings in Alphabet Inc. $GOOG

Key Points

• Union Bancaire Privee UBP SA decreased its holdings in Alphabet Inc. by 7.9% in Q2, closing with 953,610 shares worth approximately $157.58 million, representing 3.1% of its investment portfolio.
• Alphabet reported earnings of $2.31 per share, beating analysts' estimates, with revenue of $96.43 billion for the quarter, a 13.8% year-over-year increase.
• The firm announced a quarterly dividend of $0.21 per share, yielding 0.3%, with a payout ratio of 8.95%.

Union Bancaire Privee UBP SA decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 953,610 shares of the information services provider's stock after selling 81,500 shares during the quarter. Alphabet makes up about 3.1% of Union Bancaire Privee UBP SA's investment portfolio, making the stock its 6th largest position. Union Bancaire Privee UBP SA's holdings in Alphabet were worth $157,581,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its position in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Deutsche Bank AG raised its position in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after acquiring an additional 440,526 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 0.8%

NASDAQ:GOOG opened at $245.54 on Thursday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. 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 stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.64 and a beta of 1.00. The stock has a 50-day moving average price of $219.78 and a two-hundred day moving average price of $185.88.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. UBS Group boosted their target price on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Barclays reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $230.35.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,285 shares of company stock valued at $50,994,787 in the last three months. Insiders own 12.99% of the company's stock.

About Alphabet

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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