Handelsbanken Fonder AB Has $540.54 Million Stock Holdings in Alphabet Inc. $GOOG

Handelsbanken Fonder AB increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,047,201 shares of the information services provider’s stock after purchasing an additional 304,319 shares during the period. Alphabet makes up approximately 1.9% of Handelsbanken Fonder AB’s holdings, making the stock its 7th largest position. Handelsbanken Fonder AB’s holdings in Alphabet were worth $540,543,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Headwater Capital Co Ltd bought a new stake in shares of Alphabet in the 2nd quarter worth about $17,739,000. NorthStar Asset Management LLC NJ boosted its position in shares of Alphabet by 7.5% in the 2nd quarter. NorthStar Asset Management LLC NJ now owns 12,627 shares of the information services provider’s stock worth $2,240,000 after purchasing an additional 878 shares during the last quarter. Prudential PLC raised its position in shares of Alphabet by 15.3% in the 2nd quarter. Prudential PLC now owns 687,227 shares of the information services provider’s stock valued at $121,907,000 after acquiring an additional 91,170 shares during the period. Wisconsin Wealth Advisors LLC acquired a new stake in Alphabet in the second quarter worth $480,000. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Alphabet by 87.4% during the second quarter. Dynamic Technology Lab Private Ltd now owns 10,907 shares of the information services provider’s stock worth $1,935,000 after acquiring an additional 5,086 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 1.0%

Shares of Alphabet stock opened at $289.98 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $306.89. The stock has a fifty day moving average price of $261.82 and a 200-day moving average price of $212.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.50 trillion, a PE ratio of 28.60, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOG shares. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Bank of America increased their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Barclays upped their target price on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 195,452 shares of company stock worth $49,255,209. Company insiders own 12.99% of the company’s stock.

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.