SBI Securities Co. Ltd. Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

SBI Securities Co. Ltd. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,811 shares of the information services provider’s stock after purchasing an additional 3,846 shares during the quarter. Alphabet makes up 0.9% of SBI Securities Co. Ltd.’s investment portfolio, making the stock its 21st biggest holding. SBI Securities Co. Ltd.’s holdings in Alphabet were worth $26,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. FMR LLC increased its holdings in Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the period. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares in the last quarter. Capital International Investors boosted its position in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares in the last quarter. Northern Trust Corp boosted its position in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Alphabet by 0.8% during the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after acquiring an additional 294,556 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director owned 255,400 shares in the company, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,443 shares of company stock worth $36,298,548. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $181.31 on Monday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market capitalization of $2.20 trillion, a P/E ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01. The business has a 50 day moving average price of $171.50 and a 200 day moving average price of $174.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Alphabet from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and six have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $207.13.

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.