Asset Management One Co. Ltd. Grows Holdings in Alphabet Inc. $GOOG

Asset Management One Co. Ltd. increased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,225,646 shares of the information services provider’s stock after acquiring an additional 15,738 shares during the quarter. Alphabet comprises approximately 1.2% of Asset Management One Co. Ltd.’s holdings, making the stock its 12th biggest position. Asset Management One Co. Ltd.’s holdings in Alphabet were worth $394,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. R Squared Ltd grew its holdings in Alphabet by 249.9% during the 2nd quarter. R Squared Ltd now owns 7,557 shares of the information services provider’s stock valued at $1,341,000 after buying an additional 5,397 shares in the last quarter. AlTi Global Inc. grew its holdings in Alphabet by 6.1% during the 2nd quarter. AlTi Global Inc. now owns 89,538 shares of the information services provider’s stock valued at $15,884,000 after buying an additional 5,176 shares in the last quarter. Cardinal Point Capital Management ULC grew its holdings in Alphabet by 771.0% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 109,078 shares of the information services provider’s stock valued at $19,349,000 after buying an additional 96,555 shares in the last quarter. Sharper & Granite LLC purchased a new stake in Alphabet during the 2nd quarter valued at approximately $216,000. Finally, 180 Wealth Advisors LLC grew its holdings in Alphabet by 1.8% during the 2nd quarter. 180 Wealth Advisors LLC now owns 38,157 shares of the information services provider’s stock valued at $6,769,000 after buying an additional 691 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last quarter. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOG shares. UBS Group set a $255.00 target price on Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Friday. Jefferies Financial Group increased their target price on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $249.68.

Alphabet Stock Performance

Shares of Alphabet stock opened at $260.51 on Monday. The stock’s fifty day moving average price is $237.33 and its 200-day moving average price is $196.91. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $262.51. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.15 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.76 and a beta of 1.00.

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.