Alphabet Inc. $GOOG Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.0% during the 1st quarter, Holdings Channel reports. The fund owned 268,241 shares of the information services provider’s stock after selling 29,776 shares during the period. Alphabet comprises about 2.2% of Dai ichi Life Insurance Company Ltd’s portfolio, making the stock its 7th biggest position. Dai ichi Life Insurance Company Ltd’s holdings in Alphabet were worth $76,948,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Imprint Wealth LLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $38,000. Lifetime Wealth Management P.C. acquired a new stake in Alphabet during the fourth quarter worth approximately $38,000. Bard Associates Inc. purchased a new stake in Alphabet in the 4th quarter worth approximately $41,000. Finally, Towne Trust Company N.A grew its stake in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares in the company, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is owned by insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on Alphabet from $418.00 to $411.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. TD Cowen reiterated a “buy” rating and issued a $475.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 target price on Alphabet in a research note on Thursday. Stifel Nicolaus set a $420.00 target price on Alphabet in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. decreased their price target on Alphabet from $460.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $410.09.

Alphabet Trading Up 2.3%

GOOG stock opened at $326.57 on Tuesday. The company has a market cap of $3.96 trillion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.08 and a beta of 1.23. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $359.30 and a 200-day simple moving average of $337.61. Alphabet Inc. has a 52 week low of $188.70 and a 52 week high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $116.53 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 17.25 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is 4.42%.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.