Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,793.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 239,040 shares of the information services provider’s stock after acquiring an additional 226,418 shares during the quarter. Alphabet comprises approximately 1.3% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 5th biggest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Alphabet were worth $22,864,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Willow Creek Wealth Management Inc. lifted its holdings in shares of Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after buying an additional 17,631 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Alphabet in the third quarter worth about $55,305,000. Griffin Asset Management Inc. lifted its holdings in shares of Alphabet by 1,900.0% in the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after buying an additional 49,628 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of Alphabet by 3,005.0% in the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after buying an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its holdings in shares of Alphabet by 1,915.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after buying an additional 123,356 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $93.97 on Wednesday. The stock has a fifty day moving average of $94.35 and a 200 day moving average of $96.30. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The firm has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.25 and a beta of 1.09. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the prior year, the business posted $1.53 EPS. As a group, research analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOGL. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Credit Suisse Group decreased their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Morgan Stanley upped their price objective on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Bank of America upped their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Five analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.32.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is currently owned by company insiders.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.