Danske Bank A S Buys New Shares in Alphabet Inc. $GOOGL

Danske Bank A S bought a new position in Alphabet Inc. (NASDAQ:GOOGLFree Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,667,556 shares of the information services provider’s stock, valued at approximately $1,134,683,000. Alphabet comprises 2.8% of Danske Bank A S’s portfolio, making the stock its 6th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Matrix Asset Advisors Inc. NY increased its holdings in Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after buying an additional 581 shares during the period. Sequoia Financial Advisors LLC raised its position in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after buying an additional 48,805 shares during the last quarter. Finally, United Bank raised its position in Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after buying an additional 3,120 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GOOGL shares. Arete Research upped their price objective on shares of Alphabet from $380.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Wall Street Zen cut shares of Alphabet from a “buy” rating to a “hold” rating in a report on Saturday. DZ Bank restated a “buy” rating on shares of Alphabet in a research report on Monday, February 16th. Guggenheim reaffirmed a “buy” rating and issued a $375.00 price target (up from $330.00) on shares of Alphabet in a report on Monday, December 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Alphabet in a research report on Friday, March 13th. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $367.18.

Read Our Latest Stock Analysis on Alphabet

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $310.92 on Wednesday. The company has a market capitalization of $3.76 trillion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The company’s fifty day moving average price is $318.83 and its 200 day moving average price is $291.74. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, March 9th. Alphabet’s payout ratio is currently 7.77%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 955 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the sale, the chief accounting officer directly owned 9,918 shares of the company’s stock, valued at approximately $2,955,564. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 47,574 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the sale, the insider owned 13,227 shares of the company’s stock, valued at $3,987,279.15. This trade represents a 78.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,076,615 shares of company stock worth $107,809,111 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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