Securian Asset Management Inc. Has $43.54 Million Stock Position in Alphabet Inc. $GOOG

Securian Asset Management Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 245,455 shares of the information services provider's stock after selling 4,965 shares during the period. Alphabet makes up approximately 1.2% of Securian Asset Management Inc.'s portfolio, making the stock its 14th biggest holding. Securian Asset Management Inc.'s holdings in Alphabet were worth $43,541,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC boosted its position in shares of Alphabet by 580,897.4% during 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 during the last quarter. Nuveen LLC purchased a new position in Alphabet during the 1st quarter worth $2,622,943,000. Vanguard Group Inc. boosted its holdings in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio purchased a new position in Alphabet during the first quarter worth about $369,713,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $253.73 on Friday. The stock has a market capitalization of $3.07 trillion, a P/E ratio of 27.02, a PEG ratio of 1.70 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $236.22 and its 200 day moving average is $195.53. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.88.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOG. Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $246.26.

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.

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