Meiji Yasuda Asset Management Co Ltd. Has $59.81 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,365 shares of the information services provider’s stock after purchasing an additional 8,518 shares during the period. Alphabet makes up 2.4% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 5th biggest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Alphabet were worth $59,812,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $30,000. Kings Path Partners LLC bought a new stake in Alphabet in the 2nd quarter valued at approximately $36,000. Finally, Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 0.7 %

Shares of GOOGL opened at $166.99 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. The firm’s 50 day moving average is $162.22 and its 200-day moving average is $167.02. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm earned $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The disclosure for this sale can be found here. Insiders sold 193,725 shares of company stock valued at $31,933,031 over the last quarter. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Tigress Financial boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Wolfe Research began coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. UBS Group upped their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Finally, Loop Capital reissued a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.35.

About Alphabet

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.