Alphabet Inc. $GOOG Holdings Raised by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Alphabet Inc. by 6.5% during Q2, now holding approximately 7.7 million shares valued at around $1.37 billion.
• Research analysts have set new price targets for Alphabet, with TD Cowen raising the target from $270 to $280, indicating a strong market outlook.
• Alphabet's recent quarterly earnings topped estimates, reporting $2.31 EPS and $96.43 billion in revenue, reflecting a year-over-year growth of 13.8%.

Nordea Investment Management AB raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,709,452 shares of the information services provider's stock after purchasing an additional 473,783 shares during the period. Alphabet comprises 1.3% of Nordea Investment Management AB's investment portfolio, making the stock its 9th biggest position. Nordea Investment Management AB owned approximately 0.06% of Alphabet worth $1,368,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $26,000. IFS Advisors LLC grew its stake in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley increased its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, Fairman Group LLC raised its stake in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock valued at $31,000 after buying an additional 97 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen upped their price objective on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Mizuho upgraded shares of Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $244.68.

Alphabet Stock Up 0.8%

Shares of NASDAQ GOOG opened at $253.79 on Monday. The business has a 50-day moving average price of $232.18 and a 200 day moving average price of $193.25. The stock has a market cap of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The firm's revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the transaction, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,372 shares of company stock worth $55,110,740 over the last 90 days. Company insiders own 12.99% of the company's stock.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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