Securian Asset Management Inc. Has $47.78 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Securian Asset Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,985 shares of the information services provider's stock after selling 5,050 shares during the quarter. Alphabet accounts for 1.5% of Securian Asset Management Inc.'s portfolio, making the stock its 11th largest position. Securian Asset Management Inc.'s holdings in Alphabet were worth $47,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at $24,383,677,000. FMR LLC increased its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp increased its stake in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial reiterated a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Royal Bank Of Canada raised their price target on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday. Rosenblatt Securities raised their price target on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday. Oppenheimer raised their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, Guggenheim raised their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.32.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,409 shares of company stock valued at $43,523,710. 11.64% of the stock is owned by insiders.

Alphabet Stock Up 1.0%

Alphabet stock traded up $1.94 during midday trading on Thursday, reaching $192.17. The stock had a trading volume of 74,740,490 shares, compared to its average volume of 39,272,972. The firm's fifty day simple moving average is $175.23 and its 200-day simple moving average is $173.10. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a market capitalization of $2.33 trillion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm earned $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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.