Meiji Yasuda Life Insurance Co Sells 3,710 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meiji Yasuda Life Insurance Co lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,478 shares of the information services provider’s stock after selling 3,710 shares during the quarter. Alphabet makes up 0.4% of Meiji Yasuda Life Insurance Co’s portfolio, making the stock its 20th biggest holding. Meiji Yasuda Life Insurance Co’s holdings in Alphabet were worth $19,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC lifted its holdings in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its position in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Joseph P. Lucia & Associates LLC raised its stake in Alphabet by 1.0% during the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after purchasing an additional 64 shares during the period. Finally, Sunflower Bank N.A. boosted its holdings in Alphabet by 1.0% in the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,725 shares of company stock worth $31,933,031. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. Argus boosted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley lowered their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Guggenheim upped their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.35.

Alphabet Stock Performance

Shares of GOOGL opened at $166.99 on Wednesday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.21 and a beta of 1.04. The business’s 50 day moving average is $162.22 and its two-hundred day moving average is $167.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company posted $1.44 earnings per share. Analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 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.