Alphabet Inc. (NASDAQ:GOOG) Stake Boosted by Iyo Bank Ltd.

Iyo Bank Ltd. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 19.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,390 shares of the information services provider’s stock after buying an additional 14,370 shares during the period. Alphabet accounts for approximately 5.3% of Iyo Bank Ltd.’s portfolio, making the stock its 5th largest position. Iyo Bank Ltd.’s holdings in Alphabet were worth $13,306,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the fourth quarter valued at $26,000. Partnership Wealth Management LLC bought a new position in Alphabet in the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet during the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at about $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $34,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.86.

Alphabet Stock Performance

Shares of GOOG opened at $187.39 on Thursday. The business has a 50-day simple moving average of $175.47 and a two-hundred day simple moving average of $156.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.62. The stock has a market cap of $2.32 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. On average, analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,288 shares of company stock valued at $25,345,053. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company 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.