Alphabet Inc. (NASDAQ:GOOG) Holdings Lowered by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 39.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,836,339 shares of the information services provider’s stock after selling 1,208,513 shares during the quarter. Alphabet accounts for 1.6% of Skandinaviska Enskilda Banken AB publ’s holdings, making the stock its 8th largest position. Skandinaviska Enskilda Banken AB publ’s holdings in Alphabet were worth $336,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth about $34,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the 2nd quarter worth about $37,000. Slocum Gordon & Co LLP purchased a new position in Alphabet during the second quarter worth approximately $44,000. Hoese & Co LLP grew its holdings in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at approximately $48,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,667 shares of company stock valued at $33,964,256. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 0.9 %

GOOG stock opened at $164.64 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $166.26 and a two-hundred day moving average of $166.79. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during 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 for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOG shares. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $182.86.

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.