Alphabet Inc. $GOOG is Fjarde AP Fonden Fourth Swedish National Pension Fund’s 10th Largest Position

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 20.4% in the second quarter, Holdings Channel reports. The institutional investor owned 938,973 shares of the information services provider’s stock after acquiring an additional 159,100 shares during the quarter. Alphabet accounts for 1.5% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings, making the stock its 10th largest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Alphabet were worth $166,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its position in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Deutsche Bank AG increased its position in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.5%

GOOG opened at $275.17 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $241.46 and a 200-day simple moving average of $199.27. The stock has a market capitalization of $3.33 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.81 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $275.97.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. DA Davidson set a $825.00 price target on Alphabet in a report on Monday. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, TD Cowen raised their price target on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $297.56.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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