Nippon Life Global Investors Americas Inc. Buys 11,490 Shares of Alphabet Inc. (NASDAQ:GOOG)

Nippon Life Global Investors Americas Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 687,740 shares of the information services provider’s stock after buying an additional 11,490 shares during the quarter. Alphabet makes up 5.5% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 3rd largest position. Nippon Life Global Investors Americas Inc.’s holdings in Alphabet were worth $126,145,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Capital International Investors increased its stake in Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Capital World Investors increased its position in shares of Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after acquiring an additional 979,083 shares during the last quarter. Capital Research Global Investors grew its stake in Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares in the last quarter. Finally, Sanders Capital LLC raised its position in shares of Alphabet by 2.9% in the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after purchasing an additional 813,428 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GOOG shares. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $182.86.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock valued at $33,964,256 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $164.64 on Monday. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock’s 50 day moving average price is $166.26 and its 200 day moving average price is $167.26.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

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.