E. Ohman J or Asset Management AB Has $174.07 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

E. Ohman J or Asset Management AB trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,125,672 shares of the information services provider's stock after selling 103,888 shares during the period. Alphabet makes up approximately 4.6% of E. Ohman J or Asset Management AB's holdings, making the stock its 5th largest holding. E. Ohman J or Asset Management AB's holdings in Alphabet were worth $174,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $39,000. PayPay Securities Corp increased its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $49,000. Finally, Navigoe LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $51,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOOGL shares. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Citigroup boosted their target price on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Truist Financial reduced their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Roth Mkm reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Finally, Wells Fargo & Company boosted their target price on Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Trading Up 3.3%

Shares of GOOGL stock traded up $5.47 during trading hours on Friday, reaching $173.68. The company had a trading volume of 35,701,262 shares, compared to its average volume of 30,162,270. The company has a 50 day moving average of $160.14 and a 200 day moving average of $174.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the business posted $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock worth $32,036,638 in the last quarter. Corporate insiders own 11.64% of the company's stock.

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.