Tokio Marine Asset Management Co. Ltd. Has $49.66 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Tokio Marine Asset Management Co. Ltd. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% during the third quarter, Holdings Channel reports. The firm owned 299,400 shares of the information services provider’s stock after acquiring an additional 12,603 shares during the period. Alphabet makes up approximately 2.2% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 6th biggest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Alphabet were worth $49,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter valued at approximately $41,000. Quarry LP bought a new position in Alphabet in the 2nd quarter valued at approximately $53,000. Finally, Summit Securities Group LLC acquired a new stake in Alphabet in the second quarter valued at approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. This represents a 35.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

GOOGL stock opened at $169.23 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50-day moving average is $168.36 and its 200-day moving average is $170.33. The stock has a market capitalization of $2.07 trillion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the business earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. KeyCorp upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.