Forsta AP Fonden Has $226.30 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Forsta AP Fonden trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,233,800 shares of the information services provider’s stock after selling 134,400 shares during the period. Alphabet makes up 2.0% of Forsta AP Fonden’s investment portfolio, making the stock its 7th largest holding. Forsta AP Fonden’s holdings in Alphabet were worth $226,304,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOOG. Park Avenue Securities LLC increased its position in Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC grew its stake in Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares during the period. Oak Ridge Investments LLC increased its holdings in shares of Alphabet by 4.6% during the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after acquiring an additional 8,201 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Alphabet by 0.7% during the first quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock worth $9,580,000 after purchasing an additional 426 shares during the period. Finally, AMG National Trust Bank lifted its holdings in shares of Alphabet by 1.0% in the 4th quarter. AMG National Trust Bank now owns 67,054 shares of the information services provider’s stock worth $9,450,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Three equities research 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 stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $158.37 on Friday. The company has a market capitalization of $1.95 trillion, a PE ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $169.06 and its 200-day moving average price is $165.96. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,867 shares of company stock worth $34,218,581. 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.