Norinchukin Bank The Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Norinchukin Bank The grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,364 shares of the information services provider’s stock after buying an additional 10,250 shares during the period. Alphabet accounts for about 0.9% of Norinchukin Bank The’s holdings, making the stock its 19th largest holding. Norinchukin Bank The’s holdings in Alphabet were worth $44,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $166,000. McIlrath & Eck LLC grew its stake in Alphabet by 12.9% during the 3rd quarter. McIlrath & Eck LLC now owns 13,575 shares of the information services provider’s stock worth $2,270,000 after buying an additional 1,546 shares during the last quarter. Passumpsic Savings Bank acquired a new position in Alphabet during the third quarter worth approximately $263,000. Finally, Advisory Resource Group lifted its stake in Alphabet by 8.7% in the third quarter. Advisory Resource Group now owns 10,277 shares of the information services provider’s stock valued at $1,718,000 after buying an additional 822 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Westpark Capital assumed coverage on Alphabet in a report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock. KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, Oppenheimer lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.88.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,163 shares of company stock valued at $25,361,647. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $153.36 on Friday. The company has a market capitalization of $1.87 trillion, a P/E ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04. The company has a 50-day moving average of $167.16 and a 200-day moving average of $177.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. Alphabet’s dividend payout ratio is currently 9.94%.

Alphabet Company Profile

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.