Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,483,564 shares of the information services provider’s stock after selling 1,350,046 shares during the period. Alphabet comprises about 1.4% of Nuveen Asset Management LLC’s portfolio, making the stock its 9th biggest position. Nuveen Asset Management LLC owned 0.22% of Alphabet worth $5,013,339,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. increased its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on GOOGL shares. Wedbush set a $190.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. DA Davidson reduced their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Tuesday, May 6th. Mizuho dropped their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Sanford C. Bernstein increased their price objective on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $159.53 on Wednesday. The company has a market cap of $1.94 trillion, a P/E ratio of 19.82, a P/E/G ratio of 1.34 and a beta of 1.01. The firm’s 50 day moving average is $158.38 and its two-hundred day moving average is $175.12. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Alphabet Profile

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.