Nippon Life Global Investors Americas Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,840 shares of the information services provider's stock after selling 114,260 shares during the period. Alphabet accounts for 4.8% of Nippon Life Global Investors Americas Inc.'s holdings, making the stock its 4th largest holding. Nippon Life Global Investors Americas Inc.'s holdings in Alphabet were worth $103,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SIH Partners LLLP acquired a new position in shares of Alphabet during the 4th quarter valued at $486,000. Fayez Sarofim & Co raised its holdings in shares of Alphabet by 9.5% during the fourth quarter. Fayez Sarofim & Co now owns 7,654,196 shares of the information services provider's stock valued at $1,470,203,000 after purchasing an additional 664,132 shares during the period. Stifel Financial Corp boosted its position in shares of Alphabet by 2.4% during the 4th quarter. Stifel Financial Corp now owns 3,535,678 shares of the information services provider's stock worth $673,344,000 after purchasing an additional 84,059 shares in the last quarter. Wealth Dimensions Group Ltd. increased its position in Alphabet by 16.8% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 12,513 shares of the information services provider's stock valued at $2,383,000 after buying an additional 1,799 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Alphabet by 233.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 420,416 shares of the information services provider's stock worth $80,064,000 after buying an additional 294,148 shares during the period. 27.26% of the stock is currently owned by institutional investors.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock worth $25,361,647 in the last three months. 12.99% of the stock is owned by insiders.
Analyst Ratings Changes
GOOG has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Scotiabank lowered their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday. JPMorgan Chase & Co. lifted their price target on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday. Benchmark reissued a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $203.94.
Check Out Our Latest Research Report on GOOG
Alphabet Price Performance
Shares of GOOG traded up $2.38 during midday trading on Friday, reaching $163.85. The stock had a trading volume of 35,100,087 shares, compared to its average volume of 19,526,202. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company's 50-day moving average is $164.69 and its 200 day moving average is $177.17.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.77. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is 9.94%.
About Alphabet
(
Free Report)
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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