Northwestern Mutual Wealth Management Co. raised its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 53,698 shares of the information services provider’s stock after purchasing an additional 1,944 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Alphabet were worth $60,634,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Well Done LLC purchased a new position in Alphabet during the 1st quarter valued at about $107,000. Emerald Investment Partners LLC bought a new stake in Alphabet during the 2nd quarter valued at about $137,000. Private Ocean LLC increased its stake in Alphabet by 355.6% during the 1st quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 96 shares in the last quarter. Highlander Capital Management LLC increased its stake in Alphabet by 333.3% during the 1st quarter. Highlander Capital Management LLC now owns 130 shares of the information services provider’s stock valued at $133,000 after purchasing an additional 100 shares in the last quarter. Finally, Clearwater Capital Advisors LLC bought a new stake in Alphabet during the 1st quarter valued at about $153,000. 30.54% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ GOOGL opened at $1,109.65 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.10. The company has a market cap of $772.18 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. Alphabet Inc has a 12-month low of $984.00 and a 12-month high of $1,291.44.
GOOGL has been the subject of a number of analyst reports. Macquarie restated a “buy” rating and set a $1,250.00 price objective on shares of Alphabet in a research note on Wednesday, August 15th. Jefferies Financial Group restated a “buy” rating and set a $1,450.00 price objective on shares of Alphabet in a research note on Tuesday, August 21st. MKM Partners raised their price objective on shares of Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Morgan Stanley restated an “overweight” rating and set a $1,515.00 price objective (up from $1,325.00) on shares of Alphabet in a research note on Wednesday, August 29th. Finally, Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirty have given a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,330.17.
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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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