Lansforsakringar Fondforvaltning AB publ Sells 32,550 Shares of Alphabet Inc. $GOOGL

Lansforsakringar Fondforvaltning AB publ decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,586,988 shares of the information services provider’s stock after selling 32,550 shares during the quarter. Alphabet comprises 3.9% of Lansforsakringar Fondforvaltning AB publ’s investment portfolio, making the stock its 5th largest holding. Lansforsakringar Fondforvaltning AB publ’s holdings in Alphabet were worth $743,910,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the period. Matrix Asset Advisors Inc. NY grew its holdings in Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after acquiring an additional 581 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after acquiring an additional 48,805 shares during the last quarter. Finally, United Bank boosted its position in shares of Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after purchasing an additional 3,120 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Bank of America upped their price objective on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Dbs Bank raised their target price on Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. President Capital lifted their price objective on shares of Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Citigroup restated an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $413.54.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,465 shares of company stock worth $8,020,511 in the last 90 days. Company insiders own 11.61% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Investors are highlighting Alphabet as a top AI stock, with billionaire Jeffrey Talpins reportedly naming it a preferred AI idea, reinforcing confidence in the company’s long-term AI upside. Alphabet Inc. (GOOGL) Is A Top AI Stock To Buy According To Billionaire Jeffrey Talpins
• Positive Sentiment: Google Cloud is being touted as a major growth engine, with commentary suggesting it may be “driving the train” for Alphabet thanks to strong cloud momentum and a large backlog, which supports the bull case for revenue and margin expansion. Is Google Cloud Officially Driving the Train?
• Positive Sentiment: Alphabet was featured as a “final trade” on CNBC, and several bullish pieces point to continued investor interest in the stock after strong gains over the past year. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC’s ‘Final Trades’
• Neutral Sentiment: Articles noting Alphabet’s strong stock performance and asking whether it is too late to buy may keep the stock in focus, but they mainly reflect momentum rather than a new fundamental catalyst. Down Over 10% From Its All-Time High, Is Now the Perfect Time to Buy Alphabet Stock?
• Negative Sentiment: Regulatory pressure remains a drag after Europe’s final €4.1 billion Android antitrust ruling, which adds to legal risk around Alphabet’s mobile and search ecosystem. Alphabet (GOOGL) Faces Final €4.1b Android Antitrust Ruling In Europe
• Negative Sentiment: Privacy-related reporting that Google is expanding AI training using user-uploaded media could raise user trust and regulatory concerns, even if it also supports AI model development. If you use Google, you’re training its AI. Here’s how to opt out.

Alphabet Stock Up 1.4%

NASDAQ GOOGL traded up $5.15 on Tuesday, reaching $371.61. The company had a trading volume of 4,065,557 shares, compared to its average volume of 32,626,334. The company’s fifty day moving average is $371.05 and its 200-day moving average is $334.60. The firm has a market capitalization of $4.50 trillion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 1-year low of $172.77 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, research analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date 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 0.2%. Alphabet’s dividend payout ratio is 6.71%.

Alphabet Company 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.