Meiji Yasuda Life Insurance Co Sells 22,127 Shares of Alphabet Inc. $GOOG
by Teresa Graham · The Cerbat GemMeiji Yasuda Life Insurance Co trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 10.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,404 shares of the information services provider’s stock after selling 22,127 shares during the quarter. Alphabet accounts for approximately 0.6% of Meiji Yasuda Life Insurance Co’s investment portfolio, making the stock its 14th largest holding. Meiji Yasuda Life Insurance Co’s holdings in Alphabet were worth $28,185,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at about $32,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the first quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in Alphabet in the first quarter valued at about $34,000. 27.26% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director directly owned 6,316 shares of the company’s stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
GOOG has been the topic of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. UBS Group boosted their price target on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Cowen restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.56.
View Our Latest Report on GOOG
Alphabet Trading Up 1.1%
Alphabet stock opened at $235.17 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $236.13. The company has a market capitalization of $2.84 trillion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The stock has a 50-day moving average price of $196.65 and a 200 day moving average price of $176.75.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s payout ratio is 8.95%.
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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