Nuveen Asset Management LLC Has $5.64 Billion Stake in Alphabet Inc. (NASDAQ:GOOG)

Nuveen Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,607,727 shares of the information services provider's stock after selling 913,359 shares during the period. Alphabet comprises approximately 1.6% of Nuveen Asset Management LLC's investment portfolio, making the stock its 7th biggest position. Nuveen Asset Management LLC owned 0.24% of Alphabet worth $5,638,495,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Fiduciary Advisors Inc. bought a new position in Alphabet in the fourth quarter valued at about $27,000. LSV Asset Management bought a new position in Alphabet in the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reiterated an "outperform" rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.

Alphabet Stock Up 1.2%

Shares of GOOG traded up $2.03 during mid-day trading on Friday, reaching $167.43. The company had a trading volume of 35,833,672 shares, compared to its average volume of 19,711,063. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm has a 50-day moving average price of $160.16 and a 200 day moving average price of $176.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. The company's revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,324 shares of company stock valued at $30,153,353 over the last 90 days. Company insiders own 12.99% of the company's stock.

Alphabet Profile

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.