Securian Asset Management Inc. Sells 6,855 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 18th, 2023

Securian Asset Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.5% in the 1st quarter, HoldingsChannel reports. The fund owned 440,761 shares of the information services provider’s stock after selling 6,855 shares during the period. Alphabet makes up about 1.2% of Securian Asset Management Inc.’s holdings, making the stock its 14th biggest holding. Securian Asset Management Inc.’s holdings in Alphabet were worth $45,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Corrado Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. My Personal CFO LLC bought a new stake in Alphabet during the fourth quarter worth $34,000. Milestone Wealth LLC grew its holdings in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after buying an additional 361 shares in the last quarter. Lowe Wealth Advisors LLC grew its holdings in Alphabet by 187.5% during the fourth quarter. Lowe Wealth Advisors LLC now owns 460 shares of the information services provider’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Finally, JDM Financial Group LLC bought a new stake in Alphabet during the fourth quarter worth $46,000. Institutional investors own 27.17% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $125.06 on Tuesday. The stock’s 50-day simple moving average is $122.02 and its 200 day simple moving average is $107.19. The stock has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 1.61 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $129.55.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 EPS. Research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Oppenheimer decreased their price target on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Raymond James upped their price target on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Robert W. Baird upped their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. UBS Group upped their price objective on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $131.14.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the transaction, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold a total of 864,122 shares of company stock valued at $29,751,580 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Securian Asset Management Inc. Sells 6,855 Shares of Alphabet Inc. (NASDAQ:GOOG)

Alphabet Stock Performance

Analysts Set New Price Targets

Insider Buying and Selling at Alphabet

Alphabet Company Profile

Further Reading

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