Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Forsta AP Fonden

Forsta AP Fonden raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,599,400 shares of the information services provider's stock after purchasing an additional 129,100 shares during the quarter. Alphabet accounts for approximately 2.0% of Forsta AP Fonden's investment portfolio, making the stock its 6th biggest position. Forsta AP Fonden's holdings in Alphabet were worth $265,260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $41,000. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter valued at $53,000. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after buying an additional 109 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOGL shares. Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a report on Wednesday. Tigress Financial increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Wedbush reiterated an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Finally, DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 target price for the company. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $205.90.

Alphabet Price Performance

NASDAQ GOOGL traded down $2.40 during trading hours on Friday, hitting $178.35. The company had a trading volume of 21,982,048 shares, compared to its average volume of 27,174,885. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm has a 50 day simple moving average of $163.54 and a 200 day simple moving average of $169.59.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is 10.61%.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company's stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,552 shares of company stock worth $40,287,253. 11.55% of the stock is currently owned by corporate insiders.

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.