Handelsbanken Fonder AB Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Handelsbanken Fonder AB reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,000 shares of the information services provider’s stock after selling 1,800 shares during the period. Handelsbanken Fonder AB’s holdings in Alphabet were worth $34,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. raised its position in shares of Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock valued at $135,000 after buying an additional 1 shares during the period. Delta Asset Management LLC TN increased its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares in the last quarter. InterOcean Capital LLC increased its stake in Alphabet by 0.3% in the fourth quarter. InterOcean Capital LLC now owns 971 shares of the information services provider’s stock valued at $769,000 after buying an additional 3 shares in the last quarter. Cordasco Financial Network increased its stake in Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock valued at $199,000 after buying an additional 5 shares in the last quarter. Finally, Glassman Wealth Services increased its stake in Alphabet by 1.6% in the fourth quarter. Glassman Wealth Services now owns 370 shares of the information services provider’s stock valued at $293,000 after buying an additional 6 shares in the last quarter. Institutional investors own 34.12% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.16% during mid-day trading on Friday, hitting $926.18. 1,337,404 shares of the company’s stock traded hands. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61. The stock has a 50 day moving average price of $952.51 and a 200-day moving average price of $912.15. The stock has a market cap of $641.73 billion, a P/E ratio of 33.57 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the firm posted $8.42 EPS. Equities research analysts anticipate that Alphabet Inc. will post $30.60 EPS for the current fiscal year.

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GOOGL has been the subject of a number of recent research reports. Pacific Crest reissued an “overweight” rating and issued a $1,040.00 price objective on shares of Alphabet in a research note on Sunday, April 23rd. Cowen and Company reissued an “outperform” rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Monday, April 24th. Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price objective for the company. in a research note on Monday, April 24th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $962.00 price target on the stock in a research report on Tuesday, April 25th. Finally, Instinet reaffirmed a “buy” rating and set a $925.00 price target on shares of Alphabet in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,053.45.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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