Tokio Marine Asset Management Co. Ltd. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 358,602 shares of the information services provider's stock after buying an additional 9,320 shares during the period. Alphabet makes up 2.0% of Tokio Marine Asset Management Co. Ltd.'s portfolio, making the stock its 8th largest holding. Tokio Marine Asset Management Co. Ltd.'s holdings in Alphabet were worth $55,454,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC grew its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of Alphabet stock opened at $203.50 on Tuesday. The business has a 50-day simple moving average of $184.80 and a 200 day simple moving average of $173.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. 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 has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.37 and a beta of 1.01.
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 the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of research reports. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. UBS Group boosted their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Guggenheim boosted their target price on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Westpark Capital boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, JMP Securities boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.
Read Our Latest Research Report on Alphabet
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,819 shares of company stock valued at $49,796,547. 11.64% of the stock is owned by corporate insiders.
Alphabet Company Profile
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Free Report)
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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