Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,756 shares of the information services provider's stock after selling 1,484 shares during the quarter. Alphabet comprises 0.7% of Meiji Yasuda Asset Management Co Ltd.'s portfolio, making the stock its 25th largest position. Meiji Yasuda Asset Management Co Ltd.'s holdings in Alphabet were worth $18,807,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. GPS Wealth Strategies Group LLC increased its position in shares of Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after acquiring an additional 1,041 shares during the last quarter. North Forty Two & Co. purchased a new stake in Alphabet during the 4th quarter worth approximately $281,000. Coldstream Capital Management Inc. raised its position in shares of Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock valued at $19,642,000 after purchasing an additional 14,738 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $927,000. Finally, Stevens Capital Management LP grew its position in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider's stock worth $15,254,000 after buying an additional 57,810 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Cantor Fitzgerald restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Wedbush restated an "outperform" rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $209.13.

Alphabet Stock Performance

Alphabet stock traded up $2.86 during mid-day trading on Tuesday, hitting $172.79. 13,811,344 shares of the company's stock traded hands, compared to its average volume of 17,855,898. Alphabet Inc. has a one year low of $148.20 and a one year high of $208.70. The company has a market cap of $2.11 trillion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm has a 50 day moving average price of $183.56 and a 200 day moving average price of $178.44. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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 0.46%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

About Alphabet

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.