Alphabet Inc. $GOOGL Shares Acquired by Forsta AP Fonden

Forsta AP Fonden increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,580,100 shares of the information services provider’s stock after acquiring an additional 39,200 shares during the period. Alphabet makes up about 1.8% of Forsta AP Fonden’s holdings, making the stock its 8th largest holding. Forsta AP Fonden’s holdings in Alphabet were worth $278,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at about $4,317,606,000. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Amundi lifted its stake in Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. grew its holdings in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 225,174 shares of company stock valued at $58,095,223 in the last quarter. 11.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOGL. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Daiwa Capital Markets raised their price target on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Piper Sandler reissued an “overweight” rating and set a $330.00 target price (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Citizens Jmp boosted their target price on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.65.

Alphabet Price Performance

GOOGL stock opened at $318.58 on Tuesday. 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 has a market capitalization of $3.84 trillion, a P/E ratio of 31.42, a PEG ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $263.73 and a 200-day simple moving average of $215.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $319.48.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

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.