Meiji Yasuda Life Insurance Co grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,555.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,114 shares of the information services provider’s stock after acquiring an additional 54,963 shares during the period. Alphabet accounts for approximately 0.1% of Meiji Yasuda Life Insurance Co’s portfolio, making the stock its 25th largest holding. Meiji Yasuda Life Insurance Co’s holdings in Alphabet were worth $5,492,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in GOOG. DC Investments Management LLC bought a new position in shares of Alphabet in the first quarter worth $115,000. Guardian Wealth Management Inc. bought a new position in shares of Alphabet during the first quarter valued at about $184,000. Turim 21 Investimentos Ltda. grew its stake in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares during the last quarter. qPULA Trading Management LP bought a new position in shares of Alphabet during the first quarter valued at about $279,000. Finally, Global Assets Advisory LLC bought a new position in shares of Alphabet during the second quarter valued at about $241,000. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Cowen dropped their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Finally, Raymond James raised their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.13.
Alphabet Stock Up 2.8 %
GOOG opened at $94.25 on Wednesday. The firm has a 50-day simple moving average of $94.96 and a two-hundred day simple moving average of $96.85. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $144.16. The company has a market capitalization of $1.21 trillion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.26 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:GOOG – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 earnings per share. Analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.
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.
- Get a free copy of the StockNews.com research report on Alphabet (GOOG)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Get Rating).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.