Meiji Yasuda Life Insurance Co Has $36.31 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Meiji Yasuda Life Insurance Co raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,969 shares of the information services provider’s stock after purchasing an additional 16,929 shares during the period. Alphabet accounts for approximately 0.7% of Meiji Yasuda Life Insurance Co’s investment portfolio, making the stock its 13th biggest position. Meiji Yasuda Life Insurance Co’s holdings in Alphabet were worth $36,311,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV boosted its position in shares of Alphabet by 10.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,053,164 shares of the information services provider’s stock valued at $193,171,000 after acquiring an additional 96,114 shares during the period. Wealthgate Family Office LLC bought a new position in Alphabet during the 2nd quarter worth $161,000. Meridian Wealth Partners LLC raised its holdings in Alphabet by 9.8% in the 2nd quarter. Meridian Wealth Partners LLC now owns 4,365 shares of the information services provider’s stock valued at $801,000 after acquiring an additional 388 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd grew its holdings in shares of Alphabet by 204.0% during the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 30,400 shares of the information services provider’s stock worth $5,576,000 after purchasing an additional 20,400 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its position in shares of Alphabet by 17.1% in the second quarter. E Fund Management Co. Ltd. now owns 59,941 shares of the information services provider’s stock worth $10,994,000 after purchasing an additional 8,760 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $160.81 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a 50 day simple moving average of $167.19 and a two-hundred day simple moving average of $166.60. The company has a market capitalization of $1.99 trillion, a PE ratio of 24.66, a P/E/G ratio of 1.13 and a beta of 1.04.

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

Alphabet Dividend Announcement

The firm also recently declared 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 dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction 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 directly 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 can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock worth $33,964,256 in the last quarter. 12.99% of the stock is owned by corporate insiders.

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.