Nordea Investment Management AB reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,168,271 shares of the information services provider’s stock after selling 18,009 shares during the period. Alphabet accounts for approximately 2.4% of Nordea Investment Management AB’s investment portfolio, making the stock its 3rd biggest holding. Nordea Investment Management AB owned approximately 0.13% of Alphabet worth $1,646,900,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of GOOGL. VitalStone Financial LLC acquired a new stake in Alphabet during the 4th quarter worth about $25,000. Live Oak Investment Partners bought a new position in shares of Alphabet during the 4th quarter worth about $26,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter worth about $33,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet during the 4th quarter worth about $34,000. Finally, Turim 21 Investimentos Ltda. bought a new position in shares of Alphabet during the 3rd quarter worth about $38,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the completion of the transaction, the insider now directly owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The disclosure for this sale can be found here. Insiders sold a total of 794,165 shares of company stock valued at $23,767,530 in the last three months. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Up 0.2 %
Alphabet (NASDAQ:GOOGL – Free Report) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same period in the previous year, the business earned $1.23 EPS. On average, analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current year.
Analyst Ratings Changes
GOOGL has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Royal Bank of Canada raised their price target on shares of Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Piper Sandler raised their price target on shares of Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Jefferies Financial Group raised their price target on shares of Alphabet from $130.00 to $150.00 in a research report on Tuesday, May 23rd. Finally, Sanford C. Bernstein cut shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 price target on the stock. in a research report on Tuesday, June 27th. Seven research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.63.
Alphabet 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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