LGT Fund Management Co Ltd. Has $19.27 Million Position in Alphabet Inc. $GOOG

LGT Fund Management Co Ltd. grew its position in Alphabet Inc. (NASDAQ:GOOG) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,616 shares of the information services provider’s stock after purchasing an additional 20,744 shares during the period. Alphabet comprises about 1.7% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 14th largest position. LGT Fund Management Co Ltd.’s holdings in Alphabet were worth $19,267,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GOOG. Robbins Farley grew its stake in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet in the first quarter valued at approximately $32,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth about $34,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research reports. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Saturday, September 27th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 2.1%

NASDAQ GOOG opened at $251.51 on Tuesday. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 1.66 and a beta of 1.00. The business has a 50 day moving average price of $223.05 and a 200-day moving average price of $187.91. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Alphabet 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.