Alphabet Inc (GOOG) is Swedbank’s 5th Largest Position

Swedbank lowered its holdings in Alphabet Inc (NASDAQ:GOOG) by 12.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 567,686 shares of the information services provider’s stock after selling 81,978 shares during the period. Alphabet accounts for 3.2% of Swedbank’s portfolio, making the stock its 5th largest position. Swedbank’s holdings in Alphabet were worth $588,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Investment Services of America Inc. grew its holdings in shares of Alphabet by 1.5% during the 4th quarter. Capital Investment Services of America Inc. now owns 12,066 shares of the information services provider’s stock worth $12,496,000 after purchasing an additional 174 shares in the last quarter. Steginsky Capital LLC grew its holdings in shares of Alphabet by 1.3% during the 3rd quarter. Steginsky Capital LLC now owns 18,507 shares of the information services provider’s stock worth $22,088,000 after purchasing an additional 234 shares in the last quarter. USS Investment Management Ltd grew its holdings in shares of Alphabet by 13.8% during the 4th quarter. USS Investment Management Ltd now owns 263,372 shares of the information services provider’s stock worth $273,162,000 after purchasing an additional 32,000 shares in the last quarter. Suncoast Equity Management grew its holdings in shares of Alphabet by 1.0% during the 4th quarter. Suncoast Equity Management now owns 15,662 shares of the information services provider’s stock worth $16,220,000 after purchasing an additional 148 shares in the last quarter. Finally, First National Bank of Hutchinson grew its holdings in shares of Alphabet by 3.7% during the 4th quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock worth $1,276,000 after purchasing an additional 44 shares in the last quarter. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOG stock opened at $1,164.21 on Thursday. The company has a current ratio of 3.96, a quick ratio of 3.93 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $785.90 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc has a one year low of $970.11 and a one year high of $1,289.27.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $10.51 by $1.39. The business had revenue of $36.34 billion for the quarter, compared to analyst estimates of $37.36 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. Alphabet’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.93 EPS. Research analysts expect that Alphabet Inc will post 48.31 earnings per share for the current fiscal year.

In related news, Director Ann Mather sold 38 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $1,124.90, for a total value of $42,746.20. Following the sale, the director now owns 1,797 shares of the company’s stock, valued at approximately $2,021,445.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Amie Thuener O’toole sold 89 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $1,145.00, for a total value of $101,905.00. Following the completion of the sale, the vice president now directly owns 388 shares in the company, valued at approximately $444,260. The disclosure for this sale can be found here. In the last ninety days, insiders sold 817 shares of company stock worth $974,730. 13.11% of the stock is owned by insiders.

Several analysts have recently weighed in on the company. Cowen reissued an “outperform” rating and set a $1,420.00 price objective (up previously from $1,390.00) on shares of Alphabet in a report on Thursday, April 11th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 23rd. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 30th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price objective on the stock. in a report on Tuesday, April 30th. Finally, Deutsche Bank lifted their price objective on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,361.50.

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About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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