Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has increased its holdings in Alphabet Inc. by 0.5%, owning 2,148,660 shares valued at approximately $332.27 million, making it the 6th largest holding in their investment portfolio.
• Alphabet recently announced a quarterly dividend of $0.21 per share, which will be paid on September 15th, representing an annualized yield of 0.44%.
• Analysts have shown a positive outlook for Alphabet, with several raising their price targets and maintaining a majority "buy" rating, resulting in an average target price of $211.32.

KLP Kapitalforvaltning AS lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,148,660 shares of the information services provider's stock after acquiring an additional 11,600 shares during the quarter. Alphabet makes up approximately 1.6% of KLP Kapitalforvaltning AS's investment portfolio, making the stock its 6th largest position. KLP Kapitalforvaltning AS's holdings in Alphabet were worth $332,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. WMG Financial Advisors LLC increased its position in shares of Alphabet by 5.8% in the first quarter. WMG Financial Advisors LLC now owns 6,087 shares of the information services provider's stock valued at $941,000 after acquiring an additional 332 shares during the last quarter. United Bank increased its position in shares of Alphabet by 2.1% in the first quarter. United Bank now owns 45,084 shares of the information services provider's stock valued at $6,972,000 after acquiring an additional 910 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Alphabet by 1.5% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 7,374,451 shares of the information services provider's stock worth $1,140,385,000 after buying an additional 108,160 shares during the last quarter. Wesleyan Assurance Society increased its position in Alphabet by 18.5% during the first quarter. Wesleyan Assurance Society now owns 514,130 shares of the information services provider's stock worth $79,454,000 after buying an additional 80,185 shares during the last quarter. Finally, Maytree Asset Management Ltd acquired a new position in Alphabet during the first quarter worth approximately $588,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Down 1.6%

Alphabet stock traded down $3.09 during trading hours on Friday, reaching $188.81. 17,717,821 shares of the company's stock were exchanged, compared to its average volume of 37,048,895. 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 firm's 50 day simple moving average is $177.91 and its 200 day simple moving average is $173.12. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market capitalization of $2.29 trillion, a PE ratio of 20.12, a PEG ratio of 1.33 and a beta of 1.00.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GOOGL shares. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. JMP Securities boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Susquehanna boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Piper Sandler boosted their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $211.39.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,399 shares of company stock worth $43,525,794. Company insiders own 11.64% of the company's stock.

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.