Asset Management One Co. Ltd. Buys 115,632 Shares of Alphabet Inc. (NASDAQ:GOOG)

Asset Management One Co. Ltd. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,209,908 shares of the information services provider’s stock after purchasing an additional 115,632 shares during the period. Alphabet makes up approximately 1.2% of Asset Management One Co. Ltd.’s holdings, making the stock its 10th largest holding. Asset Management One Co. Ltd.’s holdings in Alphabet were worth $345,254,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cassaday & Co Wealth Management LLC boosted its position in Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock valued at $5,341,000 after buying an additional 2,390 shares in the last quarter. LaFleur & Godfrey LLC raised its stake in shares of Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock valued at $6,088,000 after acquiring an additional 380 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Alphabet during the 4th quarter worth approximately $204,262,000. Finally, Ascent Wealth Partners LLC increased its holdings in Alphabet by 246.2% during the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 4,052 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 1.0%

NASDAQ:GOOG opened at $166.01 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.18 and a beta of 1.01. The business’s 50-day moving average price is $166.40 and its two-hundred day moving average price is $176.33.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company posted $1.89 EPS. Alphabet’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 228,070 shares of company stock valued at $37,745,632. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on GOOG shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Oppenheimer upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Profile

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.