Livforsakringsbolaget Skandia Omsesidigt Has $5.79 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,111 shares of the information services provider’s stock after selling 1,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Alphabet were worth $5,793,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. MADDEN SECURITIES Corp boosted its position in Alphabet by 82.8% in the 1st quarter. MADDEN SECURITIES Corp now owns 3,224 shares of the information services provider’s stock valued at $504,000 after buying an additional 1,460 shares during the last quarter. Accurate Wealth Management LLC boosted its position in Alphabet by 1.1% in the 1st quarter. Accurate Wealth Management LLC now owns 12,360 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 138 shares during the last quarter. Simplicity Wealth LLC boosted its position in Alphabet by 92.5% in the 1st quarter. Simplicity Wealth LLC now owns 31,439 shares of the information services provider’s stock valued at $4,912,000 after buying an additional 15,106 shares during the last quarter. GAMMA Investing LLC boosted its position in Alphabet by 19.5% in the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after buying an additional 14,931 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its position in Alphabet by 12.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 35,883 shares of the information services provider’s stock valued at $5,606,000 after buying an additional 3,980 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

GOOG opened at $177.63 on Tuesday. The business’s 50-day moving average price is $162.26 and its two-hundred day moving average price is $176.17. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOG. Susquehanna restated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.88.

About Alphabet

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.