Norinchukin Bank The Acquires 10,250 Shares of Alphabet Inc. (NASDAQ:GOOG)

Norinchukin Bank The raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the fourth quarter, Holdings Channel reports. The fund owned 234,364 shares of the information services provider’s stock after acquiring an additional 10,250 shares during the period. Alphabet comprises approximately 0.9% of Norinchukin Bank The’s holdings, making the stock its 19th biggest position. Norinchukin Bank The’s holdings in Alphabet were worth $44,632,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter worth $27,000. LSV Asset Management acquired a new position in Alphabet in the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter valued at about $43,000. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. UBS Group dropped their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.88.

Alphabet Stock Performance

NASDAQ GOOG opened at $153.36 on Friday. The firm has a 50-day moving average price of $167.16 and a two-hundred day moving average price of $177.47. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market capitalization of $1.87 trillion, a P/E ratio of 19.05, a P/E/G ratio of 1.34 and a beta of 1.04. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock valued at $25,361,647 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet 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.