Alphabet Inc. $GOOG Position Increased by Danske Bank A S

Danske Bank A S raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 2,994,735 shares of the information services provider’s stock after purchasing an additional 210,099 shares during the period. Alphabet makes up approximately 2.2% of Danske Bank A S’s holdings, making the stock its 9th biggest holding. Danske Bank A S’s holdings in Alphabet were worth $939,748,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOG. Imprint Wealth LLC purchased a new stake in Alphabet during the third quarter valued at about $31,000. Manning & Napier Advisors LLC purchased a new stake in Alphabet during the third quarter valued at about $32,000. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Towne Trust Company N.A raised its position in Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 34 shares in the last quarter. Finally, Lynch Asset Management Inc. purchased a new stake in Alphabet during the third quarter valued at about $61,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 2.6%

GOOG opened at $386.77 on Tuesday. The company has a market cap of $4.69 trillion, a P/E ratio of 29.50, a P/E/G ratio of 1.62 and a beta of 1.25. The business’s 50-day moving average price is $320.46 and its 200-day moving average price is $313.53. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $157.58 and a 12 month high of $398.37.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $2.81 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s payout ratio is 6.41%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Oppenheimer restated an “outperform” rating and set a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. Pivotal Research restated a “buy” rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. TD Cowen raised their price target on Alphabet from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $370.00 price target on shares of Alphabet in a research report on Tuesday, January 20th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $362.73.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director directly owned 3,581 shares of the company’s stock, valued at $1,187,638.65. This trade represents a 22.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $371.00, for a total value of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares in the company, valued at $6,908,391. The trade was a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 158,553 shares of company stock valued at $47,951,856 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google said it likely stopped a hacker group from using AI to plan a large-scale cyberattack, underscoring the strength of its cybersecurity capabilities and reducing the risk of a major breach. Reuters: Hackers pushing innovation in AI-enabled hacking operations, Google says
• Positive Sentiment: Investor commentary remained upbeat on Alphabet’s AI, cloud, and Gemini momentum, with some coverage arguing the company could challenge Nvidia as the world’s most valuable company. MSN: Alphabet could overtake Nvidia as world’s largest company
• Neutral Sentiment: Google Finance is expanding in Europe, adding another AI-focused product initiative, but this is more of a long-term growth story than an immediate stock-moving catalyst. PYMNTS: Google Finance Continues AI-Focused Expansion With EU Launch

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.