Alphabet Inc. (GOOG) Stake Held by FUKOKU MUTUAL LIFE INSURANCE Co
FUKOKU MUTUAL LIFE INSURANCE Co held its position in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,261 shares of the company’s stock at the end of the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Alphabet were worth $873,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in shares of Alphabet during the second quarter valued at approximately $927,982,000. Emerald Acquisition Ltd. acquired a new position in shares of Alphabet during the second quarter valued at approximately $481,330,000. Jana Partners LLC acquired a new position in shares of Alphabet during the first quarter valued at approximately $472,266,000. Bessemer Group Inc. acquired a new position in shares of Alphabet during the first quarter valued at approximately $402,406,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Alphabet by 136.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 864,773 shares of the company’s stock valued at $603,415,000 after buying an additional 499,023 shares in the last quarter. 34.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 778.53 on Friday. The stock has a market cap of $535.06 billion, a PE ratio of 30.17 and a beta of 1.03. The stock has a 50 day moving average of $774.66 and a 200-day moving average of $741.88. Alphabet Inc. has a 52 week low of $641.73 and a 52 week high of $792.28.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The company had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.99 earnings per share. Equities research analysts predict that Alphabet Inc. will post $34.14 earnings per share for the current fiscal year.
GOOG has been the topic of several recent research reports. Goldman Sachs Group Inc. set a $810.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Wednesday, July 20th. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $778.71 price target on the stock in a research report on Monday, June 20th. Longbow Research started coverage on shares of Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, September 27th. Finally, Societe Generale set a $910.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus price target of $926.55.
In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the sale, the chief executive officer now owns 3,297 shares in the company, valued at $2,437,175.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total transaction of $462,609.54. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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