LGT Fund Management Co Ltd. Has $31.01 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

LGT Fund Management Co Ltd. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 163,796 shares of the information services provider’s stock after selling 11,699 shares during the quarter. Alphabet comprises 2.7% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 7th biggest holding. LGT Fund Management Co Ltd.’s holdings in Alphabet were worth $31,007,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Compass Planning Associates Inc bought a new position in Alphabet during the fourth quarter valued at about $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 1.7 %

NASDAQ GOOGL opened at $165.49 on Monday. The stock has a 50-day simple moving average of $185.70 and a 200 day simple moving average of $176.56. The company has a market capitalization of $2.02 trillion, a PE ratio of 20.56, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.03 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s payout ratio is 9.94%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GOOGL shares. Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. DA Davidson upped their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 11.55% of the company’s stock.

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.