Skandinaviska Enskilda Banken AB publ Has $336.81 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 39.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,836,339 shares of the information services provider’s stock after selling 1,208,513 shares during the quarter. Alphabet makes up approximately 1.6% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 8th largest position. Skandinaviska Enskilda Banken AB publ’s holdings in Alphabet were worth $336,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Park Avenue Securities LLC raised its position in Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC increased its stake in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after buying an additional 107 shares during the period. Oak Ridge Investments LLC raised its holdings in shares of Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after acquiring an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after acquiring an additional 498 shares during the period. Finally, Alliance Wealth Management Group grew its holdings in Alphabet by 93.6% during the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after acquiring an additional 1,890 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Oppenheimer boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet 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 completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s 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 completion of the sale, 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. In the last quarter, insiders have sold 202,667 shares of company stock worth $33,964,256. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG opened at $164.64 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.03 trillion, a PE ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a fifty day moving average price of $166.26 and a 200-day moving average price of $166.79.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the business posted $1.44 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 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.