Alphabet Inc. (NASDAQ:GOOGL) is Asset Management One Co. Ltd.’s 8th Largest Position

Asset Management One Co. Ltd. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,421,991 shares of the information services provider’s stock after selling 51,813 shares during the period. Alphabet comprises about 1.4% of Asset Management One Co. Ltd.’s portfolio, making the stock its 8th largest holding. Asset Management One Co. Ltd.’s holdings in Alphabet were worth $401,687,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% in the second 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. Kings Path Partners LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $41,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. Finally, Quarry LP purchased a new stake in Alphabet during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. UBS Group lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $172.49 on Friday. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $165.61 and its two-hundred day moving average price is $170.13.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Company 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.