Alphabet Inc. $GOOGL is Livforsakringsbolaget Skandia Omsesidigt's 7th Largest Position

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Alphabet Inc. by 19.3%, making it the company's 7th largest position, with holdings valued at approximately $96.1 million.
• Several analysts raised their price targets for Alphabet, with Canaccord Genuity raising it from $230.00 to $270.00 and the average price target currently at $222.85.
• Alphabet declared a quarterly dividend of $0.21 per share, translating to an annualized dividend yield of 0.3%.

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 545,475 shares of the information services provider's stock after purchasing an additional 88,400 shares during the period. Alphabet accounts for approximately 0.1% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 7th largest position. Livforsakringsbolaget Skandia Omsesidigt's holdings in Alphabet were worth $96,107,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Enzi Wealth raised its stake in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares in the last quarter. Whipplewood Advisors LLC raised its stake in Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after buying an additional 67 shares in the last quarter. Aspire Capital Advisors LLC raised its stake in Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after buying an additional 67 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. raised its stake in Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after buying an additional 67 shares in the last quarter. Finally, Florida Financial Advisors LLC raised its stake in Alphabet by 0.4% in the first quarter. Florida Financial Advisors LLC now owns 16,311 shares of the information services provider's stock worth $2,523,000 after buying an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GOOGL shares. Canaccord Genuity Group increased their price target on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Cantor Fitzgerald raised their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their target price on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $222.85.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,588 shares of company stock worth $44,296,554. Insiders own 11.55% of the company's stock.

Alphabet Trading Down 0.2%

Shares of Alphabet stock opened at $251.16 on Wednesday. The company's fifty day simple moving average is $204.93 and its 200-day simple moving average is $178.65. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.75, a P/E/G ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $253.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The business 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%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. 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 (DPR) is currently 8.95%.

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.

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