AMF Tjanstepension AB Buys 41,768 Shares of Alphabet Inc. $GOOGL

AMF Tjanstepension AB grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% during the 1st quarter, Holdings Channel reports. The firm owned 841,228 shares of the information services provider’s stock after buying an additional 41,768 shares during the period. Alphabet comprises about 1.6% of AMF Tjanstepension AB’s investment portfolio, making the stock its 21st biggest position. AMF Tjanstepension AB’s holdings in Alphabet were worth $241,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new stake in Alphabet during the fourth quarter worth $32,000. EMC Capital Management bought a new position in shares of Alphabet in the 4th quarter valued at about $33,000. PMV Capital Advisers LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. Finally, Bard Associates Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $52,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Friday, July 17th. Wedbush restated an “outperform” rating on shares of Alphabet in a research note on Thursday, July 16th. The Goldman Sachs Group raised their price objective on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company reiterated an “overweight” rating and set a $438.00 target price (up from $416.00) on shares of Alphabet in a research note on Tuesday. Finally, Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $414.54.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director owned 18,833 shares in the company, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,415 shares of company stock valued at $7,672,279 in the last 90 days. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $342.09 on Thursday. The stock has a market cap of $4.14 trillion, a P/E ratio of 26.09, a PEG ratio of 1.44 and a beta of 1.24. The stock has a 50 day simple moving average of $366.14 and a 200 day simple moving average of $338.86. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $187.82 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $6.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Research analysts anticipate that Alphabet Inc. will post 14.34 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates by a wide margin, signaling strong underlying business momentum. Alphabet (GOOGL) Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Google Cloud’s 82% growth suggests Alphabet’s AI spending is translating into faster cloud demand and improving monetization. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue growth and strength across search and advertising add evidence that core businesses are still healthy. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion, Helping To Drive Strong Report By Parent Alphabet

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.