AMF Tjanstepension AB Acquires 41,768 Shares of Alphabet Inc. $GOOGL

AMF Tjanstepension AB boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,228 shares of the information services provider’s stock after purchasing an additional 41,768 shares during the period. Alphabet accounts for approximately 1.6% of AMF Tjanstepension AB’s holdings, making the stock its 21st largest holding. AMF Tjanstepension AB’s holdings in Alphabet were worth $241,904,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GOOGL. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the fourth quarter valued at $32,000. EMC Capital Management acquired a new position in Alphabet during the 4th quarter worth about $33,000. PMV Capital Advisers LLC bought a new stake in Alphabet during the 4th quarter worth about $38,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet during the 4th quarter worth about $38,000. Finally, Bard Associates Inc. bought a new stake in Alphabet during the 4th quarter worth about $52,000. Institutional investors own 40.03% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates by a wide margin, signaling strong underlying business momentum. Alphabet (GOOGL) Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Google Cloud’s 82% growth suggests Alphabet’s AI spending is translating into faster cloud demand and improving monetization. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue growth and strength across search and advertising add evidence that core businesses are still healthy. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion, Helping To Drive Strong Report By Parent Alphabet

Insider Buying and Selling

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the sale, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 159,415 shares of company stock valued at $7,672,279. Corporate insiders own 11.61% of the company’s stock.

Alphabet Stock Down 1.5%

Shares of GOOGL stock opened at $342.09 on Thursday. The firm has a fifty day moving average of $366.14 and a 200-day moving average of $338.86. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $187.82 and a 12-month high of $408.61. The company has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 1.44 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.64 by $6.47. The business had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, equities research analysts predict that Alphabet Inc. will post 14.34 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Friday, July 17th. Susquehanna restated a “positive” rating and issued a $460.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Canaccord Genuity Group upped their price objective on Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Daiwa Securities Group upped their price target on Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird raised their price target on Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $414.54.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.