Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,603 shares of the information services provider’s stock after selling 39,736 shares during the period. Alphabet makes up 1.8% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its 6th biggest holding. Dai ichi Life Insurance Company Ltd’s holdings in Alphabet were worth $73,334,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. O Neil Global Advisors Inc. purchased a new position in shares of Alphabet in the second quarter valued at approximately $10,947,000. Westover Capital Advisors LLC boosted its position in Alphabet by 3.9% in the 2nd quarter. Westover Capital Advisors LLC now owns 94,373 shares of the information services provider’s stock valued at $17,190,000 after buying an additional 3,503 shares during the period. CoreCap Advisors LLC acquired a new position in shares of Alphabet in the second quarter worth $6,861,000. SYM FINANCIAL Corp increased its position in shares of Alphabet by 114.9% during the second quarter. SYM FINANCIAL Corp now owns 8,373 shares of the information services provider’s stock worth $1,525,000 after acquiring an additional 4,477 shares during the period. Finally, Client 1ST Advisory Group LLC acquired a new stake in shares of Alphabet in the second quarter valued at $226,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several research analyst reports. Royal Bank of Canada upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Monday, September 23rd. Truist Financial reissued a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research report on Monday, September 16th. Mizuho lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI lowered their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

Alphabet Trading Up 0.7 %

Alphabet stock opened at $163.95 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a 50-day simple moving average of $163.11 and a 200 day simple moving average of $166.11. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the company posted $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is presently 12.27%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 180,867 shares of company stock valued at $29,878,106 over the last quarter. 11.55% of the stock is owned by company insiders.

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.