Alphabet Inc. $GOOG Stock Holdings Lifted by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB increased its stake in Alphabet Inc. by 8.9% in the second quarter, owning over 2.3 million shares valued at approximately $412 million.
• Analysts have set new price targets for Alphabet, with Raymond James raising their target from $185 to $210, while Oppenheimer boosted theirs from $235 to $270.
• Alphabet recently disclosed a quarterly dividend of $0.21, with an annual yield of 0.3% and a payout ratio of 8.95%.

AMF Tjanstepension AB lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,322,256 shares of the information services provider's stock after purchasing an additional 190,354 shares during the quarter. Alphabet comprises approximately 2.7% of AMF Tjanstepension AB's portfolio, making the stock its 8th biggest position. AMF Tjanstepension AB's holdings in Alphabet were worth $411,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Robbins Farley boosted its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $32,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in Alphabet during the first quarter worth $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Barclays reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $235.33.

Alphabet Stock Up 2.1%

Shares of NASDAQ GOOG opened at $251.51 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm's 50-day moving average is $223.05 and its two-hundred day moving average is $187.91. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a market capitalization of $3.04 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for 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%.Alphabet's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares of the company's stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by company insiders.

About Alphabet

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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