Nikko Asset Management Americas Inc. Has $23.27 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Nikko Asset Management Americas Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,914 shares of the information services provider’s stock after selling 13,274 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Alphabet were worth $23,270,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in Alphabet by 3.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 595,799 shares of the information services provider’s stock worth $90,716,000 after acquiring an additional 17,619 shares during the period. Whittier Trust Co. increased its stake in shares of Alphabet by 1.1% in the first quarter. Whittier Trust Co. now owns 1,328,314 shares of the information services provider’s stock worth $202,249,000 after purchasing an additional 14,519 shares during the period. Integrity Financial Corp WA boosted its stake in Alphabet by 25.7% during the 1st quarter. Integrity Financial Corp WA now owns 8,798 shares of the information services provider’s stock valued at $1,340,000 after purchasing an additional 1,801 shares during the period. Mutual Advisors LLC grew its holdings in Alphabet by 7.6% in the 1st quarter. Mutual Advisors LLC now owns 115,185 shares of the information services provider’s stock valued at $17,538,000 after buying an additional 8,114 shares during the last quarter. Finally, Smart Money Group LLC bought a new position in Alphabet in the 1st quarter worth approximately $272,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock traded up $1.83 on Wednesday, hitting $192.27. The company’s stock had a trading volume of 1,095,730 shares, compared to its average volume of 20,705,236. Alphabet Inc. has a one year low of $115.83 and a one year high of $192.86. The firm has a market cap of $2.38 trillion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $177.92 and a 200-day moving average price of $158.32.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business earned $1.17 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOOG shares. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Finally, Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

View Our Latest Report on Alphabet

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,288 shares of company stock valued at $25,345,053. Corporate insiders own 12.99% of the company’s stock.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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