Dai Ichi Life Insurance Company Ltd increased its holdings in Alphabet Inc (NASDAQ:GOOGL) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,944 shares of the information services provider’s stock after buying an additional 943 shares during the period. Alphabet makes up about 0.9% of Dai Ichi Life Insurance Company Ltd’s portfolio, making the stock its 18th largest holding. Dai Ichi Life Insurance Company Ltd’s holdings in Alphabet were worth $42,789,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Stelac Advisory Services LLC acquired a new position in Alphabet during the 3rd quarter valued at about $126,000. Odey Holdings AG boosted its stake in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the period. Lloyds Banking Group plc acquired a new position in Alphabet during the 2nd quarter valued at about $133,000. Farmers National Bank boosted its stake in Alphabet by 3.3% during the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after purchasing an additional 5 shares during the period. Finally, Hudock Capital Group LLC boosted its stake in Alphabet by 11.7% during the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 17 shares during the period. 33.60% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet Inc (NASDAQ GOOGL) opened at $1,054.56 on Tuesday. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. Alphabet Inc has a fifty-two week low of $824.30 and a fifty-two week high of $1,198.00. The company has a market cap of $726,930.63, a P/E ratio of 32.69, a P/E/G ratio of 1.08 and a beta of 0.94.
Alphabet announced that its board has approved a share repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
GOOGL has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, October 24th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price for the company in a research note on Tuesday, December 26th. SunTrust Banks reduced their target price on shares of Alphabet from $1,250.00 to $1,180.00 in a research note on Monday, January 15th. Cowen boosted their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 target price for the company in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,157.02.
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Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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