Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,342,971 shares of the information services provider’s stock after acquiring an additional 519,499 shares during the period. Alphabet comprises about 1.6% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 8th largest holding. Skandinaviska Enskilda Banken AB publ’s holdings in Alphabet were worth $206,720,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Spreng Capital Management Inc. boosted its stake in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. increased its stake in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. raised its stake in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after acquiring an additional 6 shares during the last quarter. Private Advisory Group LLC raised its position in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management lifted its position in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares during the period. Institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOGL shares. KeyCorp dropped their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Monday, April 3rd. Roth Mkm lifted their target price on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. MKM Partners lifted their price target on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Rosenblatt Securities decreased their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Three analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.06.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 732,217 shares of company stock valued at $21,135,371 and sold 326,208 shares valued at $16,803,119. 11.44% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $117.51 on Friday. The firm has a market cap of $1.49 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $122.43. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $103.71 and its two-hundred day moving average price is $97.24.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter in the prior year, the business earned $1.23 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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