Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.9% during the fourth quarter, Holdings Channel reports. The fund owned 7,184,399 shares of the information services provider’s stock after purchasing an additional 704,875 shares during the period. Alphabet makes up 1.4% of Nordea Investment Management AB’s holdings, making the stock its 6th largest holding. Nordea Investment Management AB’s holdings in Alphabet were worth $1,384,039,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new position in shares of Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the 3rd quarter valued at $33,000. Abich Financial Wealth Management LLC grew its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. HWG Holdings LP bought a new position in Alphabet during the 2nd quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.3 %

GOOG opened at $193.13 on Monday. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The company has a fifty day moving average of $181.77 and a 200-day moving average of $173.97. The stock has a market cap of $2.36 trillion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business posted $1.55 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,887 shares of company stock valued at $27,996,356 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GOOG. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $200.56.

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.