Northwestern Mutual Wealth Management Co. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,122,313 shares of the information services provider's stock after purchasing an additional 237,648 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Alphabet were worth $175,339,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the 1st quarter valued at $26,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the 1st quarter valued at $32,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GOOG. Cowen reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer reissued an "outperform" rating and set a $235.00 price objective (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.
Read Our Latest Research Report on GOOG
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 in the last ninety days. Company insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Shares of Alphabet stock opened at $206.72 on Friday. The stock has a market cap of $2.50 trillion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The business has a fifty day simple moving average of $187.71 and a 200-day simple moving average of $174.86. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $209.23.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
About Alphabet
(
Free Report)
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.
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