Resona Asset Management Co. Ltd. Has $298.05 Million Stock Position in Alphabet Inc. $GOOGL

Resona Asset Management Co. Ltd. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,928,000 shares of the information services provider’s stock after purchasing an additional 133,604 shares during the quarter. Alphabet makes up 1.7% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 6th largest holding. Resona Asset Management Co. Ltd.’s holdings in Alphabet were worth $298,053,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Nuveen LLC acquired a new position in Alphabet during the 1st quarter valued at about $4,317,606,000. GAMMA Investing LLC lifted its stake in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. Northern Trust Corp lifted its stake in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $203.50 on Tuesday. The company’s fifty day moving average is $184.80 and its 200-day moving average is $173.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm has a market cap of $2.46 trillion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Wedbush upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price target on shares of Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Finally, Bank of America upped their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $211.53.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock worth $49,796,547 in the last 90 days. 11.64% of the stock is owned by insiders.

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.