Forsta AP Fonden holds a $193.58 million position in Alphabet Inc. (NASDAQ:GOOGL)


Forsta AP Fonden reduced its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.0% in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The institutional investor owned 69,600 shares of the information services provider after selling 1,400 shares during the period. Alphabet represents 2.2% of Forsta AP Fonden’s investment portfolio, making it its 5th largest holding. Forsta AP Fonden’s holdings in Alphabet were worth $193,582,000 when he last filed with the SEC.

A number of other big investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in Alphabet by 6.1% in the 4th quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider worth $9,717,000 after acquiring 192 additional shares in the last quarter. Qube Research & Technologies Ltd increased its position in Alphabet shares by 8.6% during the fourth quarter. Qube Research & Technologies Ltd now owns 21,839 shares of the information services provider valued at $63,268,000 after buying an additional 1,731 shares in the last quarter. Empirical Finance LLC increased its position in Alphabet shares by 36.4% during the fourth quarter. Empirical Finance LLC now owns 5,157 shares of the information services provider valued at $14,940,000 after buying an additional 1,377 shares in the last quarter. Cohen Capital Management Inc. acquired a new position in Alphabet stock during the fourth quarter worth approximately $1,580,000. Finally, Redmond Asset Management LLC increased its position in Alphabet shares by 5.2% during the fourth quarter. Redmond Asset Management LLC now owns 2,445 shares of the information services provider valued at $7,083,000 after buying 121 additional shares in the last quarter. 41.70% of the shares are currently held by institutional investors.

Insiders place their bets

In other Alphabet news, Director John L. Hennessy sold 500 shares in a trade on Wednesday, August 10. The shares were sold at an average price of $120.00, for a total value of $60,000.00. Following the sale, the administrator now directly owns 34,760 shares of the company, valued at $4,171,200. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Separately, CAO Amie Thuener O’toole sold 42 shares of the company in a trade on Wednesday, June 1. The shares were sold at an average price of $2,298.63, for a total transaction of $96,542.46. Following the sale, the chief accounting officer now directly owns 1,181 shares of the company, valued at $2,714,682.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Additionally, director John L. Hennessy sold 500 shares of the company in a trade on Wednesday, August 10. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the administrator now owns 34,760 shares of the company, valued at $4,171,200. The disclosure of this sale can be found here. In the past three months, insiders have sold 42,852 shares of the company worth $15,750,955. Insiders of the company hold 11.44% of the shares of the company.

Alphabet trades up 2.4%

GOOGL opened at $121.68 on Monday. The company’s fifty-day moving average is $155.71 and its two-hundred-day moving average is $137.65. The company has a debt ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The company has a market cap of $1.60 trillion, a PE ratio of 22.64, a price-to-earnings growth ratio of 1.97, and a beta of 1.08. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its results on Tuesday, July 26. The information services provider reported earnings per share of $1.21 for the quarter, missing the consensus estimate of $1.32 per ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. In the same quarter last year, the company earned earnings per share of $27.26. Equity research analysts expect Alphabet Inc. to post EPS of 5.22 for the current year.

Analyst upgrades and downgrades

A number of research analysts have recently commented on the stock. Stifel Nicolaus set a price target of $155.00 on Alphabet shares in a Monday, July 18 research report. Wells Fargo & Company cut its price target on Alphabet shares from $170.00 to $160.00 and set an “overweight” rating for the company in a Wednesday, July 27 research report. Piper Sandler cut her price target on Alphabet shares from $139.00 to $135.00 and set an “overweight” rating for the company in a Wednesday, July 27 research report. Citigroup cut its price target on Alphabet shares from $145.00 to $140.00 and set a “buy” rating for the company in a Wednesday, July 27 research report. Finally, Oppenheimer lowered his price target on Alphabet shares to $155.00 and set an “outperform” rating for the company in a Wednesday, July 27 research report. Five equity research analysts gave the stock a hold rating, thirty-four gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $147.36.

Alphabetical Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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