Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,449 shares of the information services provider’s stock after selling 302 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Alphabet were worth $5,050,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New Hampshire Trust lifted its holdings in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Trinity Financial Advisors LLC lifted its holdings in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the period. abrdn plc lifted its holdings in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. lifted its holdings in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Finally, EWG Elevate Inc. lifted its holdings in shares of Alphabet by 9.7% during the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock worth $216,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $169.23 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.44, a PEG ratio of 1.19 and a beta of 1.03. The company has a 50-day moving average price of $168.36 and a 200 day moving average price of $170.33. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the company earned $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Truist Financial lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.