Skandinaviska Enskilda Banken AB publ Sells 71,875 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Alphabet Inc. by 2.5% during Q1, owning 2,790,887 shares after selling 71,875 shares, which represents a holding worth approximately $431.6 million.
• Several large investors have recently adjusted their positions in Alphabet, with notable increases from GAMMA Investing LLC and FMR LLC, reflecting a strong interest in the stock.
• Alphabet's stock currently has a market capitalization of $2.30 trillion and is trading at $189.13, with a consensus price target of $211.39 from Wall Street analysts.

Skandinaviska Enskilda Banken AB publ lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,790,887 shares of the information services provider's stock after selling 71,875 shares during the quarter. Alphabet accounts for about 2.1% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 6th biggest position. Skandinaviska Enskilda Banken AB publ's holdings in Alphabet were worth $431,583,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Norges Bank bought a new position in Alphabet in the 4th quarter worth approximately $24,383,677,000. FMR LLC increased its position in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC increased its position in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the period. Northern Trust Corp increased its position in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors increased its position in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $189.13 on Friday. The firm has a 50 day moving average of $178.32 and a 200 day moving average of $173.12. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,399 shares of company stock worth $43,525,794. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. KeyCorp lifted their price target on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Bank of America boosted their price objective on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group boosted their price objective on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Tigress Financial boosted their price objective on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Susquehanna boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.39.

Alphabet 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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