Hikari Power Ltd Cuts Position in Alphabet Inc. $GOOGL

Hikari Power Ltd reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.4% in the second quarter, HoldingsChannel reports. The firm owned 8,230 shares of the information services provider’s stock after selling 3,100 shares during the period. Hikari Power Ltd’s holdings in Alphabet were worth $1,450,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter worth $39,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOGL. Tigress Financial boosted their target price on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. Barclays reissued an “overweight” rating and issued a $315.00 price target (up previously from $250.00) on shares of Alphabet in a report on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, BNP Paribas Exane boosted their target price on shares of Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.10.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. This represents a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 189,896 shares of company stock valued at $44,892,175. 11.64% of the stock is owned by insiders.

Alphabet Stock Up 0.2%

GOOGL stock opened at $284.75 on Friday. The company has a market capitalization of $3.44 trillion, a P/E ratio of 28.08, a price-to-earnings-growth 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 $291.59. The firm’s fifty day simple moving average is $249.91 and its 200-day simple moving average is $203.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.