Northwestern Mutual Wealth Management Co. Boosts Position in Alphabet Inc (GOOG)

Northwestern Mutual Wealth Management Co. increased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 3.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 17,023 shares of the information services provider’s stock after acquiring an additional 538 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Alphabet were worth $18,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Alphabet by 0.9% during the 2nd quarter. BlackRock Inc. now owns 19,245,773 shares of the information services provider’s stock worth $21,471,546,000 after purchasing an additional 174,333 shares during the period. Summit Trail Advisors LLC increased its holdings in Alphabet by 132,719.3% during the 1st quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock worth $18,680,000 after purchasing an additional 18,665,638 shares during the period. Bank of New York Mellon Corp increased its holdings in Alphabet by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,644,595 shares of the information services provider’s stock worth $4,066,096,000 after purchasing an additional 27,153 shares during the period. Janus Henderson Group PLC increased its holdings in Alphabet by 1.4% during the 2nd quarter. Janus Henderson Group PLC now owns 3,335,851 shares of the information services provider’s stock worth $3,721,677,000 after purchasing an additional 47,303 shares during the period. Finally, Magellan Asset Management Ltd increased its holdings in Alphabet by 684.2% during the 1st quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock worth $2,182,080,000 after purchasing an additional 1,845,160 shares during the period. 34.16% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Raymond James restated an “outperform” rating and set a $1,405.00 price target (up previously from $1,240.00) on shares of Alphabet in a report on Tuesday, July 24th. Royal Bank of Canada upped their price target on Alphabet from $1,285.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. Nomura restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,301.81.

GOOG opened at $1,093.39 on Thursday. Alphabet Inc has a one year low of $980.64 and a one year high of $1,273.89. The stock has a market capitalization of $734.71 billion, a PE ratio of 23.76 and a beta of 1.16. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, beating analysts’ consensus estimates of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion for the quarter.

In related news, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $1,230.21, for a total value of $12,302,100.00. Following the completion of the sale, the chief executive officer now directly owns 560 shares of the company’s stock, valued at approximately $688,917.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $1,244.09, for a total value of $7,078,872.10. Following the completion of the sale, the senior vice president now directly owns 41,234 shares of the company’s stock, valued at $51,298,807.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,621 shares of company stock valued at $91,928,242. Insiders own 13.11% of the company’s stock.

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Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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