Nissay Asset Management Corp Japan ADV Has $279.92 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Nissay Asset Management Corp Japan ADV lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,452,182 shares of the information services provider’s stock after buying an additional 156,937 shares during the period. Alphabet accounts for approximately 1.7% of Nissay Asset Management Corp Japan ADV’s holdings, making the stock its 13th largest holding. Nissay Asset Management Corp Japan ADV’s holdings in Alphabet were worth $279,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter worth approximately $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Alphabet during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. KeyCorp boosted their price target on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Wedbush set a $190.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Finally, Tigress Financial boosted their price target on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $199.75.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock worth $30,153,353 in the last 90 days. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $159.53 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day moving average price of $158.38 and a two-hundred day moving average price of $175.12. The firm has a market capitalization of $1.94 trillion, a P/E ratio of 19.82, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 EPS. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Alphabet 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.