Alphabet Inc. (NASDAQ:GOOGL) is DnB Asset Management AS’s 2nd Largest Position

DnB Asset Management AS increased its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 0.1% in the second quarter, HoldingsChannel.com reports. The firm owned 258,970 shares of the information services provider’s stock after acquiring an additional 293 shares during the quarter. Alphabet accounts for 4.0% of DnB Asset Management AS’s portfolio, making the stock its 2nd largest position. DnB Asset Management AS’s holdings in Alphabet were worth $564,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Alphabet by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after acquiring an additional 331,945 shares in the last quarter. State Street Corp increased its holdings in Alphabet by 1.4% during the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after acquiring an additional 157,280 shares in the last quarter. Norges Bank purchased a new position in Alphabet during the 4th quarter valued at about $14,477,662,000. Aaron Wealth Advisors LLC increased its holdings in Alphabet by 699,790.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after acquiring an additional 4,702,590 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Alphabet by 14.1% during the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after acquiring an additional 283,907 shares in the last quarter. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, June 29th. Oppenheimer lowered their price target on shares of Alphabet to $155.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Tigress Financial lifted their price target on shares of Alphabet from $183.00 to $186.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 3rd. Finally, Monness Crespi & Hardt lowered their price target on shares of Alphabet to $145.00 in a report on Tuesday, July 5th. Five analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.41.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the sale, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at approximately $2,582,754.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the sale, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at approximately $2,582,754.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 1,109 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The disclosure for this sale can be found here. In the last three months, insiders sold 44,536 shares of company stock valued at $15,729,998. 11.44% of the stock is owned by insiders.

Alphabet Stock Performance

GOOGL stock opened at $102.80 on Monday. The company has a market capitalization of $1.34 trillion, a P/E ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09. The company has a 50-day simple moving average of $112.93 and a 200 day simple moving average of $118.84. Alphabet Inc. has a fifty-two week low of $100.94 and a fifty-two week high of $151.55. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). The company had revenue of $57.47 billion during the quarter, compared to analyst estimates of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the company earned $27.26 EPS. Sell-side analysts predict that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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