Alphabet Inc. $GOOG is Lansforsakringar Fondforvaltning AB publ's 8th Largest Position

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in Alphabet Inc. by 5.1%, leaving it as the firm's 8th largest position, valued at approximately $256.8 million.
• Recent analyst ratings for Alphabet show a consensus of "Moderate Buy" with an average target price of $215.19, reflecting investor optimism despite mixed individual ratings.
• Insiders have sold a total of 254,719 shares of Alphabet in the last 90 days, indicating potential adjustments in confidence among company leadership.

Lansforsakringar Fondforvaltning AB publ cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,643,911 shares of the information services provider's stock after selling 87,472 shares during the quarter. Alphabet accounts for about 1.6% of Lansforsakringar Fondforvaltning AB publ's investment portfolio, making the stock its 8th largest holding. Lansforsakringar Fondforvaltning AB publ's holdings in Alphabet were worth $256,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $32,000. Goodman Advisory Group LLC bought a new position in Alphabet during the 1st quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, Susquehanna reissued a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.1%

Alphabet stock opened at $208.21 on Thursday. The firm has a market cap of $2.52 trillion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.40 and a beta of 1.02. The stock has a fifty day simple moving average of $189.63 and a two-hundred day simple moving average of $175.22. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $211.09. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Alphabet 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.

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