Meiji Yasuda Life Insurance Co boosted its position in 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 & Exchange Commission. The institutional investor owned 57,114 shares of the information services provider’s stock after acquiring an additional 54,963 shares during the quarter. Alphabet accounts for about 0.1% of Meiji Yasuda Life Insurance Co’s holdings, making the stock its 25th biggest holding. Meiji Yasuda Life Insurance Co’s holdings in Alphabet were worth $5,492,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Financial Advisors Network Inc. lifted its stake in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after acquiring an additional 7 shares during the period. Turim 21 Investimentos Ltda. lifted 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 acquiring an additional 8 shares during the period. West Michigan Advisors LLC lifted its stake in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares during the period. Somerville Kurt F lifted its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its stake in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.
Insider Transactions at Alphabet
In other Alphabet news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,745 shares of company stock worth $3,424,078. Company insiders own 12.99% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. Equities research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have recently issued reports on GOOG. Bank of America upped their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Credit Suisse Group set a $136.00 price objective on Alphabet in a report on Friday, February 3rd. Societe Generale lowered their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Piper Sandler lowered their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Finally, Jefferies Financial Group set a $125.00 price target on Alphabet in a report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $137.13.
Alphabet Company Profile
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.
Featured Articles
- 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.
