Nisa Investment Advisors LLC Has $287.70 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Nisa Investment Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,841,506 shares of the information services provider's stock after selling 698,185 shares during the period. Alphabet makes up about 1.4% of Nisa Investment Advisors LLC's holdings, making the stock its 8th biggest position. Nisa Investment Advisors LLC's holdings in Alphabet were worth $287,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Norges Bank purchased a new position in Alphabet during the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC grew its stake in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Alphabet during the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp grew its stake in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC grew its stake in Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 1.5%

NASDAQ:GOOG traded up $2.61 during midday trading on Friday, reaching $181.31. 23,949,486 shares of the stock traded hands, compared to its average volume of 21,450,262. The company has a fifty day moving average of $171.50 and a 200 day moving average of $174.92. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $2.20 trillion, a P/E ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the business posted $1.89 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOG shares. KeyCorp cut their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday. Raymond James Financial reissued an "outperform" rating on shares of Alphabet in a research note on Wednesday. Westpark Capital reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.13.

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.