Nordea Investment Management AB Has $2.43 Billion Stake in Alphabet Inc. (NASDAQ:GOOGL)

Nordea Investment Management AB cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,695,723 shares of the information services provider's stock after selling 781,885 shares during the quarter. Alphabet makes up 2.5% of Nordea Investment Management AB's holdings, making the stock its 4th biggest holding. Nordea Investment Management AB owned approximately 0.10% of Alphabet worth $2,429,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Denver PWM LLC grew its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after purchasing an additional 57 shares during the last quarter. First PREMIER Bank raised its stake in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock worth $275,000 after buying an additional 61 shares in the last quarter. Cutler Investment Counsel LLC lifted its holdings in Alphabet by 1.7% in the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider's stock worth $607,000 after buying an additional 61 shares during the period. MKT Advisors LLC boosted its position in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock valued at $1,221,000 after acquiring an additional 62 shares in the last quarter. Finally, Mendota Financial Group LLC grew its holdings in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock worth $67,000 after acquiring an additional 64 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 2.6 %

Shares of NASDAQ GOOGL traded up $5.08 during mid-day trading on Monday, hitting $196.87. The company had a trading volume of 29,540,574 shares, compared to its average volume of 22,834,023. The company has a market capitalization of $2.41 trillion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The business's 50-day simple moving average is $180.24 and its 200 day simple moving average is $172.46. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet's payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company's stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,887 shares of company stock worth $27,996,356. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on GOOGL shares. Roth Mkm lifted their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Alphabet from $212.00 to $232.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Alphabet from $190.00 to $205.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $206.82.

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.