E. Ohman J or Asset Management AB Has $220.94 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

E. Ohman J or Asset Management AB lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,332,140 shares of the information services provider’s stock after selling 46,640 shares during the quarter. Alphabet accounts for about 5.5% of E. Ohman J or Asset Management AB’s holdings, making the stock its 4th largest position. E. Ohman J or Asset Management AB’s holdings in Alphabet were worth $220,935,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GOOGL. Pachira Investments Inc. lifted its position in shares of Alphabet by 5.2% during the 1st quarter. Pachira Investments Inc. now owns 4,192 shares of the information services provider’s stock worth $633,000 after buying an additional 208 shares during the period. PCG Wealth Advisors LLC raised its position in Alphabet by 4.6% in the 1st quarter. PCG Wealth Advisors LLC now owns 3,446 shares of the information services provider’s stock valued at $520,000 after purchasing an additional 153 shares during the last quarter. Kovack Advisors Inc. raised its position in Alphabet by 4.3% in the 1st quarter. Kovack Advisors Inc. now owns 98,232 shares of the information services provider’s stock valued at $14,826,000 after purchasing an additional 4,089 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Alphabet by 0.3% during the first quarter. Cornerstone Wealth Management LLC now owns 43,079 shares of the information services provider’s stock worth $6,502,000 after acquiring an additional 132 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Alphabet by 16.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 239,116 shares of the information services provider’s stock valued at $36,090,000 after purchasing an additional 32,925 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, JMP Securities lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,552 shares of company stock valued at $34,433,848 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $169.74 on Wednesday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $162.59 and a 200 day simple moving average of $169.31. The stock has a market capitalization of $2.09 trillion, a PE ratio of 22.51, a P/E/G ratio of 1.22 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the business earned $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.