Arbejdsmarkedets Tillaegspension Makes New $25.09 Million Investment in Alphabet Inc. $GOOGL

Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 87,235 shares of the information services provider’s stock, valued at approximately $25,085,000.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Strategic Wealth Advisors LLC raised its holdings in shares of Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 27 shares during the last quarter. Symmetry Partners LLC grew its stake in Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares in the last quarter. Private Wealth Management Group LLC raised its stake in shares of Alphabet by 1.2% during the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock valued at $730,000 after purchasing an additional 30 shares during the period. Members Trust Co increased its position in shares of Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after buying an additional 31 shares during the period. Finally, Altfest L J & Co. Inc. raised its position in shares of Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 159,415 shares of company stock valued at $7,672,279. Insiders own 11.61% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $342.09 on Thursday. The firm has a market capitalization of $4.14 trillion, a PE ratio of 26.09, a PEG ratio of 1.44 and a beta of 1.24. The stock’s fifty day moving average is $366.14 and its 200 day moving average is $338.86. Alphabet Inc. has a fifty-two week low of $187.82 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $6.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.34 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Monday, May 4th. Truist Financial set a $430.00 price target on Alphabet and gave the company a “buy” rating in a report on Friday, May 29th. Guggenheim restated a “buy” rating and issued a $450.00 price target (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Dbs Bank increased their price objective on shares of Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $414.54.

Key Stories Impacting Alphabet

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

About Alphabet

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.