Alphabet Inc. (NASDAQ:GOOGL) Holdings Raised by Norinchukin Bank The

Norinchukin Bank The lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,572 shares of the information services provider's stock after purchasing an additional 19,845 shares during the quarter. Alphabet comprises about 1.1% of Norinchukin Bank The's portfolio, making the stock its 16th biggest position. Norinchukin Bank The's holdings in Alphabet were worth $52,355,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. PayPay Securities Corp boosted its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares in the last quarter. Finally, Denver PWM LLC grew its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after buying an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOGL. BMO Capital Markets restated an "outperform" rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Cantor Fitzgerald dropped their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Truist Financial reduced their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and issued a $178.00 price target on shares of Alphabet in a report on Wednesday, April 16th. Finally, Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.64.

Alphabet Price Performance

Alphabet stock traded up $3.93 during mid-day trading on Thursday, reaching $159.28. The company had a trading volume of 44,765,157 shares, compared to its average volume of 28,414,059. The stock's 50-day simple moving average is $163.13 and its 200-day simple moving average is $175.47. The company has a market capitalization of $1.94 trillion, a P/E ratio of 19.79, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the company earned $1.89 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. Alphabet's payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,690 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is owned by insiders.

Alphabet Company Profile

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.