Alecta Tjanstepension Omsesidigt Has $1.38 Billion Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Alecta Tjanstepension Omsesidigt has reduced its stake in Alphabet Inc. by 2.7%, making it the fund's second largest position, constituting 6.5% of its portfolio.
• Alphabet recently reported earnings of $2.31 per share for the last quarter, exceeding estimates, with a total revenue of $96.43 billion.
• The company has announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3%.

Alecta Tjanstepension Omsesidigt lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,829,000 shares of the information services provider's stock after selling 220,200 shares during the quarter. Alphabet accounts for about 6.5% of Alecta Tjanstepension Omsesidigt's investment portfolio, making the stock its 2nd biggest position. Alecta Tjanstepension Omsesidigt owned about 0.06% of Alphabet worth $1,379,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Secure Asset Management LLC boosted its position in Alphabet by 2.5% in the second quarter. Secure Asset Management LLC now owns 21,956 shares of the information services provider's stock valued at $3,869,000 after buying an additional 545 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Alphabet by 0.8% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 20,677 shares of the information services provider's stock valued at $3,644,000 after buying an additional 170 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Alphabet by 1.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 939,186 shares of the information services provider's stock valued at $165,513,000 after buying an additional 13,152 shares in the last quarter. Brooklyn FI LLC boosted its position in Alphabet by 40.4% in the second quarter. Brooklyn FI LLC now owns 3,693 shares of the information services provider's stock valued at $651,000 after buying an additional 1,063 shares in the last quarter. Finally, Ayrshire Capital Management LLC boosted its position in Alphabet by 185.2% in the second quarter. Ayrshire Capital Management LLC now owns 9,174 shares of the information services provider's stock valued at $1,617,000 after buying an additional 5,957 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday. Cantor Fitzgerald upped their target price on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Wells Fargo & Company upped their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Truist Financial upped their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $231.31.

Alphabet Stock Down 0.6%

Shares of GOOGL stock traded down $1.39 during mid-day trading on Tuesday, reaching $251.14. 7,828,454 shares of the company's stock traded hands, compared to its average volume of 36,669,504. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a market cap of $3.04 trillion, a P/E ratio of 26.75, a P/E/G ratio of 1.72 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company's 50-day moving average price is $210.78 and its 200-day moving average price is $180.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

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.