Meiji Yasuda Asset Management Co Ltd. raised its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,722.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,130 shares of the information services provider’s stock after purchasing an additional 86,130 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Alphabet were worth $8,762,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Vanguard Group Inc. grew its stake in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after buying an additional 400,930,216 shares in the last quarter. BlackRock Inc. grew its stake in shares of Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after buying an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after buying an additional 192,607,045 shares in the last quarter. State Street Corp grew its stake in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after buying an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after buying an additional 59,964,963 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Alphabet Stock Up 2.8 %
Alphabet stock opened at $94.25 on Wednesday. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $144.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The company has a market capitalization of $1.21 trillion, a P/E ratio of 20.71, a PEG ratio of 1.26 and a beta of 1.09. The stock has a 50-day simple moving average of $94.96 and a 200-day simple moving average of $96.85.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The disclosure for this sale can be found here. Insiders sold a total of 36,745 shares of company stock valued at $3,424,078 in the last ninety days. Insiders own 12.99% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on GOOG shares. Bank of America boosted their target price on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Societe Generale lowered their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research note on Monday, February 6th. Royal Bank of Canada set a $130.00 target price on Alphabet in a research note on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research note on Thursday, February 9th. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.13.
About Alphabet
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.
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