Meiji Yasuda Life Insurance Co Purchases 1,292 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meiji Yasuda Life Insurance Co grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,521 shares of the information services provider’s stock after purchasing an additional 1,292 shares during the period. Alphabet makes up approximately 0.3% of Meiji Yasuda Life Insurance Co’s investment portfolio, making the stock its 15th largest holding. Meiji Yasuda Life Insurance Co’s holdings in Alphabet were worth $17,481,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOGL. DC Investments Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $206,000. Eudaimonia Advisors LLC increased its position in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $281,000. 35.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Wolfe Research lifted their target price on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. KeyCorp boosted their price target on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. Loop Capital boosted their price target on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Tigress Financial boosted their price target on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 14th. Finally, UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.08.

Alphabet Trading Up 0.1 %

Shares of GOOGL stock opened at $129.88 on Friday. The stock’s fifty day moving average price is $125.09 and its two-hundred day moving average price is $113.23. The company has a market cap of $1.64 trillion, a PE ratio of 27.52, a P/E/G ratio of 1.52 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $134.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the business posted $1.21 EPS. Equities analysts predict that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,006 shares of company stock worth $8,804,132. Insiders own 0.88% of the company’s stock.

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