Nikko Asset Management Americas Inc. Has $7.50 Million Holdings in Alphabet Inc. (GOOG)

Nikko Asset Management Americas Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 210.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,250 shares of the information services provider’s stock after buying an additional 5,596 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Alphabet were worth $7,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOG. Riggs Asset Managment Co. Inc. raised its holdings in Alphabet by 39.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after purchasing an additional 40 shares in the last quarter. Farmers National Bank raised its holdings in Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after purchasing an additional 21 shares in the last quarter. St. Johns Investment Management Company LLC raised its holdings in Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after purchasing an additional 157 shares in the last quarter. Cribstone Capital Management LLC raised its holdings in Alphabet by 5.7% in the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after purchasing an additional 10 shares in the last quarter. Finally, Baker Boyer National Bank bought a new position in Alphabet in the 2nd quarter worth $200,000. 34.50% of the stock is owned by institutional investors and hedge funds.

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Several brokerages have commented on GOOG. Piper Jaffray Companies restated an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a report on Wednesday, August 9th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. BidaskClub lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. MKM Partners reiterated a “buy” rating and issued a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a research note on Thursday, August 10th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have issued a buy rating to the company. Alphabet has a consensus rating of “Buy” and an average price target of $1,045.44.

In other Alphabet news, Director L John Doerr sold 13,556 shares of Alphabet stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the completion of the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at $3,213,692.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $933.08, for a total transaction of $170,753.64. The disclosure for this sale can be found here. Insiders have sold 41,714 shares of company stock valued at $39,425,705 over the last ninety days. 13.92% of the stock is owned by insiders.

Shares of Alphabet Inc. (NASDAQ:GOOG) opened at $1,028.07 on Friday. Alphabet Inc. has a 1 year low of $727.54 and a 1 year high of $1,048.39. The firm has a market cap of $714,304.06, a price-to-earnings ratio of 34.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. Alphabet’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.06 earnings per share.

About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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