Asset Management One Co. Ltd. Grows Stock Holdings in Alphabet Inc. $GOOGL

Asset Management One Co. Ltd. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,670,666 shares of the information services provider’s stock after buying an additional 43,077 shares during the quarter. Alphabet comprises about 1.5% of Asset Management One Co. Ltd.’s portfolio, making the stock its 8th largest position. Asset Management One Co. Ltd.’s holdings in Alphabet were worth $470,651,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. Gimbal Financial grew its position in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares during the last quarter. Missouri Trust & Investment Co grew its position in Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its position in Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares during the last quarter. Bfsg LLC grew its position in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares during the last quarter. Finally, Financial Council LLC grew its position in Alphabet by 1.0% in the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after acquiring an additional 60 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GOOGL shares. CICC Research lifted their target price on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC boosted their price target on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Susquehanna lifted their target price on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. China Renaissance lifted their target price on shares of Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Guggenheim lifted their target price on shares of Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $302.20.

Alphabet Stock Performance

Shares of GOOGL stock opened at $283.72 on Tuesday. The business’s 50 day simple moving average is $245.50 and its 200 day simple moving average is $201.24. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The stock has a market capitalization of $3.43 trillion, a PE ratio of 27.98, a PEG ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,442 shares of company stock valued at $51,200,307 over the last three months. Insiders own 11.64% of the company’s stock.

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.