Alphabet Inc. (NASDAQ:GOOGL) is Forsta AP Fonden’s 6th Largest Position

Forsta AP Fonden lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,470,300 shares of the information services provider’s stock after selling 125,000 shares during the quarter. Alphabet comprises approximately 2.4% of Forsta AP Fonden’s investment portfolio, making the stock its 6th biggest position. Forsta AP Fonden’s holdings in Alphabet were worth $267,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC boosted its stake in Alphabet by 1.6% during the 4th quarter. TrinityPoint Wealth LLC now owns 59,125 shares of the information services provider’s stock worth $8,259,000 after purchasing an additional 907 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its stake in Alphabet by 3.5% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 9,417 shares of the information services provider’s stock worth $1,353,000 after purchasing an additional 318 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Alphabet by 2.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 995,828 shares of the information services provider’s stock worth $139,107,000 after purchasing an additional 19,376 shares during the last quarter. Prospector Partners LLC boosted its stake in Alphabet by 0.5% during the 4th quarter. Prospector Partners LLC now owns 64,925 shares of the information services provider’s stock worth $9,069,000 after purchasing an additional 355 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its stake in Alphabet by 7.3% during the 4th quarter. Hohimer Wealth Management LLC now owns 27,729 shares of the information services provider’s stock worth $3,877,000 after purchasing an additional 1,876 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Monday. Finally, Citigroup boosted their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated 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 directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold 180,867 shares of company stock worth $29,878,106 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 0.5 %

Shares of Alphabet stock opened at $161.49 on Thursday. The stock has a fifty day simple moving average of $163.80 and a 200 day simple moving average of $166.17. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a market capitalization of $1.99 trillion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

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.