Alphabet Inc. $GOOGL is Securian Asset Management Inc.’s 10th Largest Position

Securian Asset Management Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 304,212 shares of the information services provider’s stock after selling 4,773 shares during the period. Alphabet makes up about 1.5% of Securian Asset Management Inc.’s holdings, making the stock its 10th biggest holding. Securian Asset Management Inc.’s holdings in Alphabet were worth $53,611,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOOGL. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. Jag Capital Management LLC boosted its position in Alphabet by 24.8% during the 1st quarter. Jag Capital Management LLC now owns 121,707 shares of the information services provider’s stock valued at $18,821,000 after buying an additional 24,152 shares during the period. Mcdaniel Terry & Co. boosted its position in Alphabet by 3.3% during the 1st quarter. Mcdaniel Terry & Co. now owns 15,007 shares of the information services provider’s stock valued at $2,321,000 after buying an additional 479 shares during the period. Finally, Vista Investment Partners II LLC boosted its position in Alphabet by 5.6% during the 1st quarter. Vista Investment Partners II LLC now owns 5,331 shares of the information services provider’s stock valued at $824,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler reissued an “overweight” rating and set a $330.00 price target (up previously from $285.00) on shares of Alphabet in a research report on Thursday. Wolfe Research reissued an “outperform” rating and set a $350.00 price target (up previously from $290.00) on shares of Alphabet in a research report on Thursday. Oppenheimer increased their price target on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Bank of America upped their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $301.98.

Alphabet Stock Down 0.1%

Shares of Alphabet stock opened at $281.31 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day moving average of $244.00 and a 200 day moving average of $199.68. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. 11.64% of the stock is owned by corporate insiders.

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.