Norinchukin Bank The Purchases 77,230 Shares of Alphabet Inc. $GOOGL

Key Points

• Norinchukin Bank has increased its holdings in Alphabet Inc. by 27.9%, acquiring an additional 77,230 shares, bringing its total to 353,802 shares valued at approximately $54.7 million.
• Company insiders, including CEO Sundar Pichai, have sold a total of 254,719 shares of stock worth over $47 million in the last three months, indicating a 1.25% decrease in Pichai’s ownership.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with an annualized dividend yield of 0.4%, highlighting its financial stability amidst strong quarterly earnings.

Norinchukin Bank The lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 353,802 shares of the information services provider's stock after purchasing an additional 77,230 shares during the period. Alphabet comprises about 1.0% of Norinchukin Bank The's holdings, making the stock its 14th largest holding. Norinchukin Bank The's holdings in Alphabet were worth $54,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Alphabet during the first quarter worth about $4,317,606,000. GAMMA Investing LLC lifted its holdings in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Finally, Wellington Management Group LLP grew its position in Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.8%

GOOGL traded up $1.59 during mid-day trading on Friday, hitting $213.23. The stock had a trading volume of 25,453,381 shares, compared to its average volume of 36,107,535. The stock's fifty day simple moving average is $189.51 and its 200-day simple moving average is $173.92. The firm has a market capitalization of $2.58 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $214.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction 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 approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,608 shares of company stock worth $47,204,035. 11.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, August 21st. Citigroup lifted their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their target price on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, KeyCorp raised their price objective on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

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.