Alphabet Inc. (NASDAQ:GOOG) Position Boosted by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,628,176 shares of the information services provider’s stock after purchasing an additional 115,716 shares during the quarter. Alphabet accounts for approximately 1.7% of Handelsbanken Fonder AB’s portfolio, making the stock its 9th largest holding. Handelsbanken Fonder AB’s holdings in Alphabet were worth $439,405,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Park Avenue Securities LLC raised its holdings in shares of 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 buying an additional 11,646 shares during the period. Colonial River Wealth Management LLC raised its holdings in shares of Alphabet by 5.3% during the 2nd 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% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after buying an additional 8,201 shares during the period. Rosenberg Matthew Hamilton raised its holdings in shares of Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after buying an additional 498 shares during the period. Finally, Alliance Wealth Management Group raised its holdings in shares of Alphabet by 93.6% during the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after buying an additional 1,890 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 217,592 shares of company stock worth $35,922,911. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on GOOG shares. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Pivotal Research assumed coverage on Alphabet in a report on Tuesday. They set a “buy” rating and a $215.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $183.75.

Alphabet Stock Up 0.8 %

GOOG stock traded up $1.35 during midday trading on Friday, hitting $168.56. 11,435,318 shares of the company’s stock were exchanged, compared to its average volume of 19,948,043. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The firm has a 50 day moving average price of $163.53 and a 200-day moving average price of $168.77. The stock has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio 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.