Alphabet Inc. $GOOGL Holdings Lessened by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,802,900 shares of the information services provider’s stock after selling 119,195 shares during the period. Alphabet comprises 3.1% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 5th largest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Alphabet were worth $312,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after buying an additional 6,733,278 shares during the last quarter. State Street Corp increased its holdings in Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after acquiring an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC increased its holdings in Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after acquiring an additional 4,224,497 shares during the last quarter. Norges Bank purchased a new stake in Alphabet in the 2nd quarter worth $21,944,208,000. Finally, Invesco Ltd. boosted its holdings in shares of Alphabet by 1.2% during the 2nd quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock valued at $7,780,875,000 after purchasing an additional 503,306 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $309.29 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $283.14 and a 200-day moving average price of $229.18. The firm has a market capitalization of $3.73 trillion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on GOOGL. Daiwa Capital Markets boosted their target price on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Guggenheim reaffirmed a “buy” rating and set a $375.00 price objective (up from $330.00) on shares of Alphabet in a report on Monday, December 1st. Moffett Nathanson raised their target price on shares of Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $315.00 price objective on shares of Alphabet in a research note on Tuesday, December 2nd. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.22.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,128 shares of company stock worth $61,326,372 in the last quarter. 11.64% of the stock is owned by company insiders.

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.