Arbejdsmarkedets Tillaegspension Invests $25.09 Million in Alphabet Inc. $GOOGL

Arbejdsmarkedets Tillaegspension bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 87,235 shares of the information services provider’s stock, valued at approximately $25,085,000.

A number of other large investors also recently bought and sold shares of the business. Strategic Wealth Advisors LLC raised its position in shares of Alphabet by 6.0% during the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock worth $137,000 after purchasing an additional 27 shares during the last quarter. Symmetry Partners LLC increased its holdings in shares of Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after buying an additional 30 shares during the last quarter. Private Wealth Management Group LLC grew its holdings in shares of Alphabet by 1.2% during the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock worth $730,000 after purchasing an additional 30 shares during the period. Members Trust Co increased its position in shares of Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after purchasing an additional 31 shares during the last quarter. Finally, Altfest L J & Co. Inc. raised its holdings in Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 1.5%

GOOGL stock opened at $342.09 on Thursday. Alphabet Inc. has a fifty-two week low of $187.82 and a fifty-two week high of $408.61. The company’s 50 day moving average price is $366.14 and its 200 day moving average price is $338.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.44 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.64 by $6.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 14.34 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 159,415 shares of company stock worth $7,672,279. 11.61% of the stock is currently owned by corporate insiders.

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

Analyst Ratings Changes

A number of research firms have commented on GOOGL. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $393.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Evercore lifted their price target on shares of Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Mizuho lifted their price objective on Alphabet from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Daiwa Securities Group boosted their price objective on Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $414.54.

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.