Andra AP fonden owns $41.71 million stake in Alphabet Inc. (NASDAQ:GOOG)

VaselineSeptember 12, 2024

0 5 minutes read

Andra AP fonden reduced its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 43.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 227,400 shares of the information services provider’s stock after selling 175,100 shares during the quarter. Alphabet makes up approximately 0.7% of Andra AP fonden’s portfolio, making the stock its 20th biggest holding. Andra AP fonden’s holdings in Alphabet were worth $41,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Park Avenue Securities LLC boosted its holdings in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC boosted its holdings in shares of Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after purchasing an additional 8,201 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Alphabet by 0.7% in the first quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock worth $9,580,000 after purchasing an additional 426 shares in the last quarter. Finally, AMG National Trust Bank boosted its holdings in shares of Alphabet by 1.0% during the fourth quarter. AMG National Trust Bank now owns 67,054 shares of the information services provider’s stock worth $9,450,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s shares.

Insider buying and selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders have sold 201,867 shares of company stock worth $34,218,581 over the last three months. Corporate insiders own 12.99% of the company’s shares.

Alphabet stock performance

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NASDAQ:GOOG opened at $152.15 on Thursday. The stock has a market cap of $1.87 trillion, a P/E ratio of 23.34, a PEG ratio of 1.13 and a beta of 1.04. The stock has a 50-day simple moving average of $170.36 and a 200-day simple moving average of $165.90. The company has a current ratio of 2.08, a quick ratio of 2.08, and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG – Get Free Report ) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted EPS of $1.44. Research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9. This represents an annualized dividend of $0.80 and a yield of 0.53%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst upgrades and downgrades

A number of research firms recently issued reports on GOOG. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86, according to MarketBeat.com.

Read the latest stock analysis on Alphabet

Alphabet Company Profile

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.