Skandinaviska Enskilda Banken AB publ decreased its holdings in Alphabet Inc (NASDAQ:GOOG) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,772 shares of the information services provider’s stock after selling 180 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Alphabet were worth $77,469,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after acquiring an additional 589,654 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 4.8% in the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares in the last quarter. FMR LLC lifted its holdings in shares of Alphabet by 0.4% in the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after purchasing an additional 62,507 shares in the last quarter. Capital World Investors lifted its holdings in shares of Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 3.2% during the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after acquiring an additional 155,151 shares in the last quarter. Institutional investors and hedge funds own 34.34% of the company’s stock.
Shares of Alphabet Inc (NASDAQ GOOG) traded up $8.88 during trading hours on Thursday, hitting $1,111.34. 1,512,400 shares of the company’s stock were exchanged, compared to its average volume of 1,761,847. Alphabet Inc has a 1 year low of $803.37 and a 1 year high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The firm has a market cap of $773,140.00, a price-to-earnings ratio of 34.83 and a beta of 1.01.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business’s revenue was up 24.0% on a year-over-year basis. During the same period last year, the company posted $9.36 EPS.
Alphabet announced that its board has approved a share repurchase program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
Several analysts recently issued reports on GOOG shares. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Wells Fargo & Co reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, Societe Generale reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $1,064.49.
In other news, VP James Grier Campbell sold 184 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $1,012.66, for a total transaction of $186,329.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the sale, the chief executive officer now owns 1,178 shares of the company’s stock, valued at $1,181,369.08. The disclosure for this sale can be found here. In the last three months, insiders sold 39,010 shares of company stock valued at $41,531,496. 13.92% of the stock is owned by insiders.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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