Alphabet Inc. (NASDAQ:GOOG) is Tokio Marine Asset Management Co. Ltd.’s 7th Largest Position

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 276,409 shares of the information services provider’s stock after purchasing an additional 14,847 shares during the quarter. Alphabet accounts for 2.0% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 7th biggest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Alphabet were worth $46,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in Alphabet by 360.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after purchasing an additional 15,848 shares in the last quarter. Quent Capital LLC boosted its position in shares of Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after acquiring an additional 1,798 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Alphabet by 19.0% during the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock valued at $13,100,000 after acquiring an additional 13,756 shares during the period. Great Lakes Retirement Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $215,000. Finally, GM Advisory Group LLC increased its position in Alphabet by 2.5% in the 1st quarter. GM Advisory Group LLC now owns 45,710 shares of the information services provider’s stock valued at $6,960,000 after acquiring an additional 1,120 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.7 %

GOOG opened at $177.35 on Friday. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $166.20 and a 200-day moving average price of $171.57. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.