E. Ohman J or Asset Management AB Has $201.18 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• E. Ohman J or Asset Management AB increased its stake in Alphabet Inc. by 1.4%, holding a total of approximately $201.18 million in shares, making it the fund's 5th biggest position.
• Insider trading reports revealed that John Kent Walker sold 23,820 shares for about $4.64 million, indicating a significant decrease of 35.65% in ownership, while other insiders significantly reduced their positions as well.
• Alphabet's stock recently showed strong earnings with $2.31 earnings per share for the last quarter, surpassing analysts' expectations, and the company declared a quarterly dividend of $0.21 to shareholders.

E. Ohman J or Asset Management AB lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,141,575 shares of the information services provider's stock after purchasing an additional 15,903 shares during the quarter. Alphabet accounts for approximately 5.0% of E. Ohman J or Asset Management AB's holdings, making the stock its 5th biggest position. E. Ohman J or Asset Management AB's holdings in Alphabet were worth $201,180,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $39,000. Institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,710 shares of company stock worth $49,208,380. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Performance

GOOGL opened at $240.80 on Monday. The company has a 50 day simple moving average of $201.89 and a two-hundred day simple moving average of $177.58. 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 has a market cap of $2.91 trillion, a P/E ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $242.25.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company 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%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid 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 0.3%. Alphabet's dividend payout ratio is 8.95%.

Analyst Ratings Changes

GOOGL has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. DA Davidson upped their price target on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, September 3rd. Citigroup reissued an "outperform" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Canaccord Genuity Group raised their price target on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $221.44.

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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