Nordea Investment Management AB Has $2.28 Billion Stake in Alphabet Inc. $GOOGL

Nordea Investment Management AB grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,905,704 shares of the information services provider’s stock after acquiring an additional 376,441 shares during the period. Alphabet comprises about 2.1% of Nordea Investment Management AB’s portfolio, making the stock its 5th largest holding. Nordea Investment Management AB owned 0.11% of Alphabet worth $2,282,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in Alphabet during the first quarter worth approximately $4,317,606,000. Vanguard Group Inc. lifted its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Amundi lifted its position in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. lifted its position in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. Company insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $269.27 on Tuesday. The company has a 50 day simple moving average of $238.03 and a 200 day simple moving average of $196.63. The stock has a market cap of $3.26 trillion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.75 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $270.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GOOGL shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Monday. Bank of America boosted their price objective on shares of Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 20th. Loop Capital boosted their price objective on shares of Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a report on Friday. Wolfe Research boosted their price objective on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Finally, DA Davidson boosted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $264.34.

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.