Tokio Marine Asset Management Co. Ltd. boosted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 265,620 shares of the information services provider’s stock after purchasing an additional 13,398 shares during the quarter. Alphabet comprises 1.8% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 9th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Alphabet were worth $23,568,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of GOOG. Totem Point Management LLC grew its stake in Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F grew its stake in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the period. BCK Partners Inc. purchased a new stake in Alphabet during the first quarter worth approximately $2,564,000. Hall Capital Management Co. Inc. grew its stake in Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares during the period. Finally, Fairfield Bush & CO. boosted its stake in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the period. 28.69% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on GOOG. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a research report on Thursday, February 9th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Oppenheimer raised their price target on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Finally, Royal Bank of Canada set a $130.00 price target on shares of Alphabet in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.24.
Alphabet Stock Up 3.8 %
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results 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 company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 earnings per share. On average, analysts expect that Alphabet Inc. will post 5.11 EPS for the current fiscal year.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 29,006 shares of the business’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now directly owns 24,277 shares in the company, valued at approximately $2,472,369.68. The disclosure for this sale can be found here. Insiders sold 112,192 shares of company stock worth $11,373,417 over the last ninety days. 12.99% of the stock is currently owned by insiders.
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.
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