Meiji Yasuda Asset Management Co Ltd. Has $15.19 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Meiji Yasuda Asset Management Co Ltd. owns $15.19 million worth of Alphabet Inc. stock, having reduced its holdings by 1.5% in the first quarter, making it the firm's 28th largest holding.
• Alphabet recently announced a quarterly dividend of $0.21 per share, contributing to an annualized yield of 0.4%, with the payment date set for September 15th.
• In the first quarter, several institutional investors made significant moves with Alphabet stock, including Nuveen LLC acquiring a new stake worth over $2.62 billion and GAMMA Investing LLC increasing its position by 18,562.3%.

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,246 shares of the information services provider's stock after selling 1,510 shares during the quarter. Alphabet accounts for about 0.6% of Meiji Yasuda Asset Management Co Ltd.'s holdings, making the stock its 28th biggest holding. Meiji Yasuda Asset Management Co Ltd.'s holdings in Alphabet were worth $15,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. Nuveen LLC bought a new stake in shares of Alphabet during the 1st quarter worth $2,622,943,000. GAMMA Investing LLC lifted its position in shares of Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Alphabet in the fourth quarter valued at about $786,942,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the transaction, the director owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Up 1.1%

Shares of Alphabet stock opened at $235.17 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $236.13. The stock has a 50 day moving average price of $196.65 and a two-hundred day moving average price of $176.75. The stock has a market capitalization of $2.84 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

Several equities analysts have commented on GOOG shares. Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $227.56.

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.

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