Alphabet Inc (GOOG) Shares Bought by DNB Asset Management AS

DNB Asset Management AS increased its holdings in Alphabet Inc (NASDAQ:GOOG) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,245 shares of the information services provider’s stock after acquiring an additional 1,630 shares during the period. DNB Asset Management AS’s holdings in Alphabet were worth $46,838,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GOOG. Summit Trail Advisors LLC raised its stake in shares of Alphabet by 132,719.3% during the 1st quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock worth $18,680,000 after purchasing an additional 18,665,638 shares in the last quarter. Magellan Asset Management Ltd raised its stake in shares of Alphabet by 684.2% during the 1st quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock worth $2,182,080,000 after purchasing an additional 1,845,160 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Alphabet by 18,323.9% during the 2nd quarter. Private Advisor Group LLC now owns 954,357 shares of the information services provider’s stock worth $1,064,798,000 after purchasing an additional 949,177 shares in the last quarter. Mainstay Capital Management LLC ADV raised its stake in shares of Alphabet by 79,743.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 796,838 shares of the information services provider’s stock worth $1,009,000 after purchasing an additional 795,840 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in shares of Alphabet by 114,793.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 723,826 shares of the information services provider’s stock worth $642,000 after purchasing an additional 723,196 shares in the last quarter. 40.44% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on GOOG. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Stifel Nicolaus reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. Canaccord Genuity cut their price objective on Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating on the stock in a research note on Friday, October 26th. Deutsche Bank reissued a “buy” rating and issued a $1,375.00 price objective (up from $1,350.00) on shares of Alphabet in a research note on Tuesday, October 23rd. Finally, Macquarie reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $1,301.81.

GOOG opened at $1,106.43 on Tuesday. The company has a market capitalization of $761.59 billion, a price-to-earnings ratio of 24.63 and a beta of 1.15. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 12-month low of $980.64 and a 12-month high of $1,273.89.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. The firm had revenue of $27.16 billion for the quarter. Alphabet had a return on equity of 19.40% and a net margin of 14.45%.

In other Alphabet news, Director Ann Mather sold 194 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $1,120.68, for a total value of $217,411.92. Following the sale, the director now owns 1,797 shares of the company’s stock, valued at approximately $2,013,861.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $1,038.35, for a total value of $10,383,500.00. Following the completion of the sale, the chief executive officer now directly owns 519 shares in the company, valued at approximately $538,903.65. The disclosure for this sale can be found here. Insiders sold a total of 89,437 shares of company stock worth $99,914,001 in the last ninety days. Insiders own 13.11% of the company’s stock.

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Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Read More: Benefits of owning preferred stock

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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