Alphabet Inc (NASDAQ:GOOGL) is DNB Asset Management AS’s 4th Largest Position

DNB Asset Management AS increased its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,781 shares of the information services provider’s stock after buying an additional 789 shares during the quarter. Alphabet comprises approximately 4.3% of DNB Asset Management AS’s investment portfolio, making the stock its 4th biggest holding. DNB Asset Management AS’s holdings in Alphabet were worth $405,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Lido Advisors LLC boosted its position in Alphabet by 4.1% in the second quarter. Lido Advisors LLC now owns 10,045 shares of the information services provider’s stock valued at $14,245,000 after buying an additional 395 shares during the last quarter. Old North State Trust LLC boosted its holdings in shares of Alphabet by 36.1% in the 1st quarter. Old North State Trust LLC now owns 132 shares of the information services provider’s stock valued at $153,000 after acquiring an additional 35 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Alphabet by 78.3% in the 2nd quarter. AE Wealth Management LLC now owns 12,543 shares of the information services provider’s stock valued at $17,786,000 after acquiring an additional 5,507 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Alphabet by 6.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 124,261 shares of the information services provider’s stock worth $176,209,000 after acquiring an additional 7,092 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Alphabet by 2.7% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 308 shares of the information services provider’s stock worth $437,000 after purchasing an additional 8 shares during the last quarter. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. Bank of America lifted their price objective on Alphabet from $1,610.00 to $1,730.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BofA Securities boosted their price target on Alphabet from $1,610.00 to $1,730.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company reaffirmed a “buy” rating and set a $1,750.00 price objective (up previously from $1,575.00) on shares of Alphabet in a research note on Monday, July 27th. Robert W. Baird boosted their target price on shares of Alphabet from $1,500.00 to $1,650.00 in a research note on Thursday, June 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $1,800.00 price target on shares of Alphabet in a research report on Friday, July 31st. Four research analysts have rated the stock with a hold rating and forty-two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $1,679.91.

Shares of NASDAQ:GOOGL opened at $1,567.70 on Friday. The company has a market capitalization of $1,066.29 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.14 and a beta of 1.10. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,726.10. The business has a 50-day moving average price of $1,519.73 and a 200 day moving average price of $1,433.08. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. As a group, equities research analysts predict that Alphabet Inc will post 44.87 earnings per share for the current fiscal year.

Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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