Andra AP fonden Sells 139,969 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Andra AP fonden reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 34.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 264,337 shares of the information services provider’s stock after selling 139,969 shares during the period. Alphabet comprises approximately 0.8% of Andra AP fonden’s holdings, making the stock its 14th largest position. Andra AP fonden’s holdings in Alphabet were worth $48,149,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Capital Research Global Investors boosted its holdings in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the period. Vanguard Group Inc. raised its position in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado raised its position in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares during the period. PineStone Asset Management Inc. grew its stake in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Alphabet by 91.0% in the 2nd quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock worth $1,450,599,000 after acquiring an additional 3,777,527 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. DA Davidson started coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. BMO Capital Markets reissued an “outperform” rating and set a $222.00 target price on shares of Alphabet in a report on Monday, September 16th. Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Finally, Citigroup lifted their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.08.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock worth $29,762,606 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.1 %

GOOGL stock opened at $161.85 on Tuesday. The stock has a market cap of $2.00 trillion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm’s 50-day simple moving average is $164.23 and its 200 day simple moving average is $165.98. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Alphabet Company 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.