Lansforsakringar Fondforvaltning AB publ Reduces Stake in Alphabet Inc. $GOOG

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its Alphabet stake by 3.0% in the first quarter, selling 47,233 shares and ending with 1,541,215 shares worth about $442.1 million.
• Alphabet reported better-than-expected Q1 results, posting earnings of $5.11 per share versus $2.68 expected and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while Wall Street sentiment remained positive with multiple Buy ratings and an average target price of $376.19.

Lansforsakringar Fondforvaltning AB publ lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,541,215 shares of the information services provider's stock after selling 47,233 shares during the quarter. Alphabet comprises about 2.3% of Lansforsakringar Fondforvaltning AB publ's portfolio, making the stock its 8th largest holding. Lansforsakringar Fondforvaltning AB publ's holdings in Alphabet were worth $442,111,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Auto Owners Insurance Co lifted its position in Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock worth $5,643,262,000 after acquiring an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP boosted its holdings in shares of Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock worth $35,174,429,000 after acquiring an additional 111,699,704 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $18,093,665,000. Cardano Risk Management B.V. grew its position in shares of Alphabet by 850.3% in the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider's stock valued at $5,551,938,000 after purchasing an additional 15,830,754 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 0.5%

Shares of GOOG stock opened at $356.18 on Friday. The stock has a market cap of $4.32 trillion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. Alphabet Inc. has a 1 year low of $173.88 and a 1 year high of $404.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $367.94 and a 200 day simple moving average of $333.16.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.81 EPS. On average, research analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is 6.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOG shares. Pivotal Research reissued a "buy" rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. KeyCorp reiterated an "overweight" rating on shares of Alphabet in a research report on Wednesday, May 20th. The Goldman Sachs Group reissued a "buy" rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Oppenheimer boosted their target price on shares of Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Finally, Scotiabank restated an "outperform" rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $376.19.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s core AI and cloud story remains strong, with new commentary pointing to continued enterprise adoption, including Google Cloud’s expanding role in financial services and other large customers. Reuters: Google disrupts NetNut proxy network used in malware operations
• Positive Sentiment: Several market updates remain bullish on Alphabet’s growth profile, highlighting strong earnings momentum, AI infrastructure investment, and favorable analyst sentiment with multiple buy ratings and elevated price targets.
• Positive Sentiment: Google Cloud is gaining traction in enterprise AI, including a new deal with Jack Henry, which supports the view that Alphabet can keep growing beyond search and advertising. Zacks: GOOGL's AI Cloud Strategy Gets a Boost From Jack Henry
• Neutral Sentiment: Alphabet exceeded its $1 billion Africa investment target, a strategically positive move for long-term expansion but not likely a near-term earnings driver. Reuters: Google has exceeded $1 billion Africa investment target
• Negative Sentiment: The biggest drag on GOOG today is the EU antitrust setback, which could keep regulators focused on Alphabet’s search, Android, and shopping businesses. Reuters: EU top court dismisses Google fight against record €4.1 billion EU antitrust fine
• Negative Sentiment: Investors are also watching Alphabet’s heavy AI capex and compute constraints, which could pressure margins if spending stays elevated. Yahoo Finance: Alphabet Is Limiting Gemini AI Access As Cloud Capacity Tightens
• Negative Sentiment: Recent insider selling by Alphabet executives, while modest, may add a little caution to sentiment. SEC filing: Alphabet insider transaction

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director directly owned 2,531 shares in the company, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,465 shares of company stock valued at $8,020,511 over the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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