Skandinaviska Enskilda Banken AB publ Sells 529,090 Shares of Alphabet Inc. (NASDAQ:GOOG)

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,465,878 shares of the information services provider's stock after selling 529,090 shares during the period. Alphabet accounts for about 1.3% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 12th largest holding. Skandinaviska Enskilda Banken AB publ's holdings in Alphabet were worth $282,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Swedbank AB grew its holdings in shares of Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider's stock worth $1,394,181,000 after acquiring an additional 51,226 shares during the period. Principal Financial Group Inc. increased its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the last quarter. Meridian Management Co. lifted its stake in shares of Alphabet by 4.5% in the 3rd quarter. Meridian Management Co. now owns 31,701 shares of the information services provider's stock worth $5,300,000 after purchasing an additional 1,377 shares during the period. Ashton Thomas Private Wealth LLC grew its position in Alphabet by 2.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 100,510 shares of the information services provider's stock valued at $16,804,000 after buying an additional 2,326 shares during the period. Finally, Savvy Advisors Inc. raised its position in Alphabet by 37.2% in the third quarter. Savvy Advisors Inc. now owns 12,256 shares of the information services provider's stock worth $2,049,000 after acquiring an additional 3,322 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $169.00 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $140.01 and a 1-year high of $208.70. The business has a 50 day simple moving average of $188.44 and a two-hundred day simple moving average of $178.02. The stock has a market capitalization of $2.06 trillion, a PE ratio of 20.99, a P/E/G ratio of 1.34 and a beta of 1.03.

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Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio is currently 9.94%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company's stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,682 shares of company stock valued at $17,901,024 over the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOG. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a report on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reiterated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Wedbush restated an "outperform" rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $209.13.

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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