Alphabet Inc. (NASDAQ:GOOGL) Stock Position Reduced by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,143,848 shares of the information services provider’s stock after selling 134,747 shares during the quarter. Alphabet makes up about 3.4% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 3rd biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Alphabet were worth $159,784,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Sonata Capital Group Inc. raised its position in shares of Alphabet by 5.1% during the 3rd quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock valued at $487,000 after buying an additional 180 shares in the last quarter. QCM Cayman Ltd. bought a new position in shares of Alphabet during the third quarter valued at approximately $248,000. CFO4Life Group LLC grew its holdings in Alphabet by 1.1% in the third quarter. CFO4Life Group LLC now owns 26,973 shares of the information services provider’s stock worth $3,530,000 after purchasing an additional 282 shares during the last quarter. Cascade Investment Advisors Inc. grew its holdings in Alphabet by 0.7% in the third quarter. Cascade Investment Advisors Inc. now owns 17,740 shares of the information services provider’s stock worth $2,321,000 after purchasing an additional 125 shares during the last quarter. Finally, Capital Insight Partners LLC grew its holdings in Alphabet by 1.1% in the third quarter. Capital Insight Partners LLC now owns 51,571 shares of the information services provider’s stock worth $6,749,000 after purchasing an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. Mizuho lifted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Jefferies Financial Group boosted their target price on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Finally, JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $191.57.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 205,935 shares of company stock worth $31,178,987 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.8 %

NASDAQ:GOOGL opened at $174.99 on Friday. The firm has a market cap of $2.16 trillion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The stock has a fifty day moving average price of $160.81 and a 200 day moving average price of $146.70. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the firm earned $1.17 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 10th.

Alphabet Company Profile

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