Alphabet Inc. $GOOG is Nordea Investment Management AB’s 9th Largest Position

Nordea Investment Management AB grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,709,452 shares of the information services provider’s stock after purchasing an additional 473,783 shares during the period. Alphabet makes up about 1.3% of Nordea Investment Management AB’s holdings, making the stock its 9th largest position. Nordea Investment Management AB’s holdings in Alphabet were worth $1,368,736,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth $26,000. IFS Advisors LLC grew its stake in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley increased its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC raised its position in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Finally, Fairman Group LLC lifted its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 103 shares of Alphabet 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. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction 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. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,372 shares of company stock valued at $55,110,740 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.68.

Alphabet Stock Performance

Shares of GOOG stock opened at $253.79 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.58. The company has a 50 day moving average price of $232.18 and a 200 day moving average price of $193.25.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

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.