Global X Japan Co. Ltd. Acquires 78,581 Shares of Alphabet Inc. $GOOG

Global X Japan Co. Ltd. raised its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 266.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 108,019 shares of the information services provider’s stock after acquiring an additional 78,581 shares during the period. Alphabet accounts for approximately 2.6% of Global X Japan Co. Ltd.’s holdings, making the stock its 10th biggest position. Global X Japan Co. Ltd.’s holdings in Alphabet were worth $33,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. JPMorgan Chase & Co. raised its position in shares of Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after purchasing an additional 7,904,434 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 73.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock valued at $2,388,775,000 after purchasing an additional 4,154,929 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Alphabet by 330.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,989,463 shares of the information services provider’s stock valued at $707,691,000 after purchasing an additional 3,062,590 shares during the period. Danske Bank A S acquired a new position in shares of Alphabet in the 3rd quarter valued at $678,198,000. Finally, Holocene Advisors LP purchased a new position in Alphabet in the 2nd quarter worth about $455,745,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.2%

Shares of Alphabet stock opened at $273.14 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $350.15. The company has a market cap of $3.30 trillion, a P/E ratio of 25.27, a P/E/G ratio of 1.60 and a beta of 1.10. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $311.78 and a 200 day moving average price of $296.01.

Alphabet (NASDAQ:GOOGGet Free Report) last released its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.23. The company had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.15 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 7.77%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the sale, the director owned 4,631 shares in the company, valued at $1,405,091.71. This represents a 18.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 955 shares of Alphabet stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the sale, the chief accounting officer directly owned 9,918 shares of the company’s stock, valued at $2,955,564. This trade represents a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,092,336 shares of company stock worth $112,519,943. 12.99% of the stock is owned by company insiders.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Raymond James Financial upgraded Alphabet from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $315.00 to $400.00 in a report on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $375.00 target price on shares of Alphabet in a research report on Thursday, January 15th. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. TD Cowen restated a “buy” rating and issued a $365.00 price target (up from $355.00) on shares of Alphabet in a research report on Thursday, February 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $348.00 price objective (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $345.71.

View Our Latest Stock Analysis on Alphabet

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Read More

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.