Principal Financial Group Inc. Has $653 Million Holdings in Alphabet Inc (GOOG)
Principal Financial Group Inc. grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 3.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 680,828 shares of the information services provider’s stock after acquiring an additional 22,607 shares during the quarter. Alphabet comprises approximately 0.6% of Principal Financial Group Inc.’s holdings, making the stock its 20th largest position. Principal Financial Group Inc.’s holdings in Alphabet were worth $653,001,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Burt Wealth Advisors raised its stake in shares of Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its stake in shares of Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after buying an additional 5 shares in the last quarter. Almanack Investment Partners LLC. raised its stake in shares of Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after buying an additional 7 shares in the last quarter. St. Johns Investment Management Company LLC raised its stake in shares of Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after buying an additional 157 shares in the last quarter. Finally, Catamount Wealth Management raised its stake in shares of Alphabet by 5.8% in the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock worth $165,000 after buying an additional 10 shares in the last quarter. Institutional investors own 34.65% of the company’s stock.
Alphabet Inc (GOOG) opened at $1,121.76 on Wednesday. The firm has a market capitalization of $779,747.38, a price-to-earnings ratio of 37.55 and a beta of 0.93. Alphabet Inc has a 52-week low of $790.52 and a 52-week high of $1,139.91. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. Alphabet’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $9.06 earnings per share.
In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $1,065.21, for a total transaction of $4,260,840.00. Following the transaction, the chief executive officer now directly owns 1,031 shares of the company’s stock, valued at $1,098,231.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 38 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $38,653.98. Following the completion of the transaction, the director now owns 1,805 shares in the company, valued at approximately $1,836,064.05. The disclosure for this sale can be found here. Insiders have sold 32,900 shares of company stock worth $33,902,827 over the last three months. 13.92% of the stock is owned by insiders.
A number of research firms have recently commented on GOOG. UBS Group reissued a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. SunTrust Banks boosted their price objective on Alphabet to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Vetr downgraded Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective on the stock. in a research note on Wednesday, January 10th. Finally, Bank of America reissued a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,052.31.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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