Mitsubishi UFJ Trust & Banking Corp Has $665.05 Million Stock Position in Alphabet Inc. $GOOGL

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,773,735 shares of the information services provider’s stock after selling 464,522 shares during the quarter. Alphabet comprises about 1.5% of Mitsubishi UFJ Trust & Banking Corp’s portfolio, making the stock its 6th biggest holding. Mitsubishi UFJ Trust & Banking Corp’s holdings in Alphabet were worth $665,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Smart Money Group LLC boosted its position in shares of Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Alphabet by 41.2% during the first quarter. J.W. Cole Advisors Inc. now owns 105,906 shares of the information services provider’s stock valued at $16,377,000 after purchasing an additional 30,904 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Alphabet by 0.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,256,496 shares of the information services provider’s stock worth $194,304,000 after buying an additional 10,304 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Sanford C. Bernstein raised their price objective on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. New Street Research increased their price target on Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Melius Research boosted their price objective on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. Finally, DA Davidson raised their target price on shares of Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.65.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the sale, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 225,174 shares of company stock worth $58,095,223. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Up 6.3%

GOOGL stock opened at $318.58 on Tuesday. The company has a 50 day moving average of $263.73 and a two-hundred day moving average of $215.00. The company has a market cap of $3.84 trillion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $319.48. 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 data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

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.