AMF Tjanstepension AB grew its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,816,084 shares of the information services provider’s stock after purchasing an additional 96,784 shares during the period. Alphabet comprises about 4.1% of AMF Tjanstepension AB’s portfolio, making the stock its 3rd largest position. AMF Tjanstepension AB’s holdings in Alphabet were worth $396,873,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Totem Point Management LLC raised its holdings in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares during the period. Somerville Kurt F raised its holdings in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the period. BCK Partners Inc. acquired a new stake in shares of Alphabet during the first quarter worth $2,564,000. Hall Capital Management Co. Inc. raised its holdings in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. raised its holdings in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares during the period. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of GOOG stock opened at $116.87 on Tuesday. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The company has a 50-day simple moving average of $120.39 and a 200 day simple moving average of $105.99. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $129.55.
Analysts Set New Price Targets
A number of brokerages recently commented on GOOG. Oppenheimer dropped their price objective on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Robert W. Baird lifted their price target on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. 92 Resources reiterated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. UBS Group lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Raymond James lifted their price target on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $131.77.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the sale, the director now owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 832,682 shares of company stock valued at $26,077,123. 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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