Nordea Investment Management AB decreased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 11.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 638,536 shares of the information services provider’s stock after selling 84,773 shares during the quarter. Alphabet comprises 1.6% of Nordea Investment Management AB’s investment portfolio, making the stock its 7th biggest position. Nordea Investment Management AB’s holdings in Alphabet were worth $751,487,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its holdings in Alphabet by 102,010.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56,169,241 shares during the period. Vanguard Group Inc. boosted its holdings in Alphabet by 97.8% in the 3rd quarter. Vanguard Group Inc. now owns 43,027,936 shares of the information services provider’s stock valued at $51,643,016,000 after purchasing an additional 21,273,995 shares during the period. Trust Asset Management LLC boosted its holdings in Alphabet by 86,154.5% in the 3rd quarter. Trust Asset Management LLC now owns 20,789,054 shares of the information services provider’s stock valued at $20,790,000 after purchasing an additional 20,764,952 shares during the period. Lunia Capital LP boosted its holdings in Alphabet by 135,522.5% in the 4th quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock valued at $16,870,000 after purchasing an additional 16,857,647 shares during the period. Finally, Capital International Investors boosted its holdings in Alphabet by 587.2% in the 3rd quarter. Capital International Investors now owns 3,885,216 shares of the information services provider’s stock valued at $4,636,889,000 after purchasing an additional 3,319,821 shares during the period. 33.95% of the stock is owned by institutional investors and hedge funds.
In other Alphabet news, CAO Amie Thuener O’toole sold 69 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $1,042.90, for a total value of $71,960.10. Following the completion of the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $404,645.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann Mather sold 39 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $1,182.00, for a total value of $46,098.00. Following the completion of the transaction, the director now directly owns 1,797 shares of the company’s stock, valued at approximately $2,124,054. The disclosure for this sale can be found here. In the last quarter, insiders sold 423 shares of company stock worth $494,939. 13.11% of the stock is currently owned by company insiders.
Shares of Alphabet stock opened at $1,085.35 on Monday. The stock has a market capitalization of $753.50 billion, a P/E ratio of 22.84, a PEG ratio of 1.28 and a beta of 1.03. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The company has a current ratio of 3.96, a quick ratio of 3.93 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $10.51 by $1.39. The company had revenue of $36.34 billion for the quarter, compared to analysts’ expectations of $37.36 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. Alphabet’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.93 EPS. As a group, analysts expect that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.
GOOG has been the subject of several analyst reports. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Pivotal Research initiated coverage on shares of Alphabet in a research report on Wednesday, May 29th. They issued a “hold” rating for the company. BidaskClub cut shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Saturday, March 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. Finally, Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,361.50.
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Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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