Northwestern Mutual Wealth Management Co. Has $346.45 Million Position in Alphabet Inc. $GOOGL

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Alphabet Inc. by 2.7% in Q1, owning 2,240,337 shares valued at approximately $346.45 million.
• Insider trading activity included sales by Director Kavitark Ram Shriram and CEO Sundar Pichai, decreasing their positions by 7.09% and 1.25% respectively, with significant transactions valued at over $9 million combined.
• The company recently announced a quarterly dividend of $0.21, payable on September 15th, representing an annualized dividend yield of 0.4%.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,240,337 shares of the information services provider's stock after acquiring an additional 59,135 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Alphabet were worth $346,446,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mystic Asset Management Inc. grew its holdings in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co grew its holdings in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth about $3,119,000. Cypress Capital LLC grew its holdings in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares during the period. Finally, Falcon Wealth Planning boosted its position in shares of Alphabet by 15.7% during the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock worth $1,531,000 after purchasing an additional 1,340 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 in the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $207.14 on Wednesday. The company has a market cap of $2.51 trillion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $210.52. The business has a 50 day moving average price of $188.07 and a 200-day moving average price of $173.51. 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 (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, August 21st. Truist Financial reissued a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Royal Bank Of Canada increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Citigroup increased their price objective on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Westpark Capital increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.53.

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.

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