Nissay Asset Management Corp Japan ADV Buys 47,266 Shares of Alphabet Inc. $GOOG

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Alphabet Inc. by 5.6% during the first quarter, bringing its total holdings to 890,033 shares valued at $139.05 million.
• UBS Group raised its target price for Alphabet shares from $186.00 to $192.00, while JPMorgan Chase increased their target from $232.00 to $260.00, both maintaining positive ratings for the stock.
• During the latest quarter, Alphabet reported earnings of $2.31 per share, surpassing analysts' expectations and achieving a revenue increase of 13.8% year-over-year.

Nissay Asset Management Corp Japan ADV increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 890,033 shares of the information services provider's stock after acquiring an additional 47,266 shares during the quarter. Alphabet comprises about 0.9% of Nissay Asset Management Corp Japan ADV's investment portfolio, making the stock its 19th biggest position. Nissay Asset Management Corp Japan ADV's holdings in Alphabet were worth $139,050,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principia Wealth Advisory LLC raised its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new position in Alphabet in the 1st quarter worth $26,000. Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter worth $32,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the 1st quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet in the 1st quarter worth $34,000. Institutional investors own 27.26% of the company's stock.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp set a $265.00 price target on shares of Alphabet in a research report on Wednesday, September 3rd. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Finally, Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $227.56.

Alphabet Price Performance

Shares of Alphabet stock traded down $1.01 during trading on Monday, hitting $234.16. 23,088,673 shares of the company's stock traded hands, compared to its average volume of 24,040,113. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm's fifty day moving average price is $196.65 and its 200 day moving average price is $176.75. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $238.40. The company has a market cap of $2.83 trillion, a PE ratio of 24.94, a PEG ratio of 1.58 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.