Nissay Asset Management Corp Japan ADV Has $163.53 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Nissay Asset Management Corp Japan ADV increased its position in Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 842,767 shares of the information services provider’s stock after acquiring an additional 25,282 shares during the period. Alphabet accounts for about 1.0% of Nissay Asset Management Corp Japan ADV’s investment portfolio, making the stock its 18th biggest holding. Nissay Asset Management Corp Japan ADV’s holdings in Alphabet were worth $163,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC boosted its stake in shares of Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 1,041 shares during the period. Harvest Investment Services LLC boosted its stake in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after buying an additional 138 shares during the period. North Forty Two & Co. acquired a new stake in shares of Alphabet during the 4th quarter valued at $281,000. SageView Advisory Group LLC boosted its stake in shares of Alphabet by 140.6% during the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider’s stock valued at $2,806,000 after buying an additional 8,610 shares during the period. Finally, Requisite Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $927,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOG shares. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank cut their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $203.94.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,324 shares of company stock worth $30,153,353. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $160.89 on Wednesday. The firm’s 50-day moving average is $160.39 and its 200-day moving average is $176.86. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $1.95 trillion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. Alphabet’s payout ratio is presently 9.36%.

About Alphabet

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.