Forsta AP Fonden Has $237.40 Million Holdings in Alphabet Inc. $GOOG

Forsta AP Fonden lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,338,300 shares of the information services provider’s stock after purchasing an additional 34,500 shares during the quarter. Alphabet accounts for approximately 1.6% of Forsta AP Fonden’s investment portfolio, making the stock its 9th largest position. Forsta AP Fonden’s holdings in Alphabet were worth $237,401,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC grew its position in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new position in shares of Alphabet in the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. increased its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Strs Ohio purchased a new stake in Alphabet during the 1st quarter valued at $369,713,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $287.43 on Thursday. The company has a market capitalization of $3.47 trillion, a P/E ratio of 28.35, a P/E/G ratio of 1.86 and a beta of 1.05. The company’s 50-day simple moving average is $256.07 and its two-hundred day simple moving average is $208.20. Alphabet Inc. has a one year low of $142.66 and a one year high of $292.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen lifted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Bank of America lifted their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research report on Friday, October 24th. BMO Capital Markets restated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, Wolfe Research upped their target price on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. This trade represents a 6.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.