Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,793.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 239,040 shares of the information services provider’s stock after acquiring an additional 226,418 shares during the period. Alphabet comprises 1.3% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 5th largest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in Alphabet were worth $22,864,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. raised its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares in the last quarter. West Family Investments Inc. raised its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. raised its holdings in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC raised its holdings in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management increased its holdings in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Trading Up 3.1 %
Shares of NASDAQ GOOGL opened at $93.97 on Wednesday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.25 and a beta of 1.09. The company’s 50 day simple moving average is $94.35 and its 200 day simple moving average is $96.30.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a report on Wednesday, March 8th. Barclays raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Rosenblatt Securities reduced their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Loop Capital raised their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Finally, KeyCorp decreased their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Five research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $132.32.
Insider Transactions at Alphabet
In related news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,095,196. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at $1,095,196. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock valued at $3,424,078 over the last quarter. Corporate insiders own 11.44% of the company’s stock.
Alphabet 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 Stories
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
- 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
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.
