Handelsinvest Investeringsforvaltning Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Handelsinvest Investeringsforvaltning decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,106 shares of the information services provider’s stock after selling 4,982 shares during the period. Alphabet accounts for 1.0% of Handelsinvest Investeringsforvaltning’s holdings, making the stock its 15th biggest position. Handelsinvest Investeringsforvaltning’s holdings in Alphabet were worth $2,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Kennedy Capital Management LLC increased its stake in Alphabet by 13.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after purchasing an additional 7,556 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Alphabet by 2.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,925,955 shares of the information services provider’s stock valued at $253,899,000 after purchasing an additional 51,505 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in Alphabet by 1.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 24,498 shares of the information services provider’s stock valued at $3,230,000 after purchasing an additional 341 shares in the last quarter. KB Financial Partners LLC increased its stake in Alphabet by 1.1% during the 3rd quarter. KB Financial Partners LLC now owns 12,795 shares of the information services provider’s stock valued at $1,687,000 after purchasing an additional 134 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in Alphabet by 5.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 359,760 shares of the information services provider’s stock valued at $47,434,000 after purchasing an additional 18,532 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.4 %

GOOG stock opened at $187.39 on Thursday. The firm has a market cap of $2.32 trillion, a PE ratio of 28.74, a P/E/G ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s fifty day moving average is $175.47 and its 200 day moving average is $156.57. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.62.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business earned $1.17 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $167.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s 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 transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 146,288 shares of company stock valued at $25,345,053 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.