Nuveen Asset Management LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Nuveen Asset Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,731.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,615,585 shares of the information services provider’s stock after acquiring an additional 31,780,148 shares during the period. Alphabet makes up about 1.3% of Nuveen Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Nuveen Asset Management LLC owned 0.26% of Alphabet worth $3,215,331,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GOOGL. Willow Creek Wealth Management Inc. grew its holdings in shares of Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Alphabet in the third quarter worth about $55,305,000. Griffin Asset Management Inc. grew its holdings in shares of Alphabet by 1,900.0% in the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Alphabet by 3,005.0% in the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after purchasing an additional 65,329 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its holdings in shares of Alphabet by 1,915.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOGL. Wells Fargo & Company upped their price objective on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. New Street Research began coverage on shares of Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective for the company. Evercore ISI lowered their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. KeyCorp decreased their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Finally, Loop Capital increased their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the sale, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 36,745 shares of company stock valued at $3,424,078 in the last three months. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $90.63 on Friday. The company has a market cap of $1.16 trillion, a P/E ratio of 19.91, a P/E/G ratio of 1.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a 50-day moving average of $94.19 and a two-hundred day moving average of $96.83. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the prior year, the firm earned $1.53 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current year.

About Alphabet

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.