Alphabet Inc. $GOOG Holdings Raised by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702,711 shares of the information services provider’s stock after buying an additional 63,927 shares during the quarter. Alphabet accounts for approximately 1.5% of Resona Asset Management Co. Ltd.’s holdings, making the stock its 9th biggest holding. Resona Asset Management Co. Ltd.’s holdings in Alphabet were worth $302,276,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Atlantic Union Bankshares Corp increased its holdings in Alphabet by 264.1% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 269,976 shares of the information services provider’s stock worth $47,891,000 after purchasing an additional 195,836 shares during the last quarter. Convergence Financial LLC grew its position in shares of Alphabet by 22.2% during the second quarter. Convergence Financial LLC now owns 2,638 shares of the information services provider’s stock worth $468,000 after buying an additional 479 shares in the last quarter. Cloud Capital Management LLC increased its stake in shares of Alphabet by 1.4% in the second quarter. Cloud Capital Management LLC now owns 22,272 shares of the information services provider’s stock worth $4,356,000 after buying an additional 308 shares during the last quarter. SNS Financial Group LLC raised its holdings in Alphabet by 0.9% in the second quarter. SNS Financial Group LLC now owns 13,477 shares of the information services provider’s stock valued at $2,391,000 after acquiring an additional 117 shares in the last quarter. Finally, Trillium Asset Management LLC raised its holdings in Alphabet by 3.6% in the second quarter. Trillium Asset Management LLC now owns 13,210 shares of the information services provider’s stock valued at $2,343,000 after acquiring an additional 460 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.2%

Shares of NASDAQ:GOOG opened at $285.34 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $250.48 and its 200 day moving average price is $204.23. The company has a market cap of $3.45 trillion, a PE ratio of 28.14, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOG. HSBC reissued a “buy” rating and issued a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler boosted their price objective on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Mizuho set a $325.00 target price on Alphabet in a research report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 189,896 shares of company stock valued at $44,892,175. 12.99% of the stock is currently owned by corporate insiders.

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.