Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Position in Alphabet Inc (GOOG)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Alphabet Inc (NASDAQ:GOOG) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 54,364 shares of the information services provider’s stock after acquiring an additional 1,194 shares during the period. Alphabet comprises 1.2% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s investment portfolio, making the stock its 11th biggest holding. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Alphabet were worth $52,141,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Burt Wealth Advisors increased its stake in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares during the period. Signature Estate & Investment Advisors LLC grew its holdings in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares in the last quarter. Almanack Investment Partners LLC. grew its holdings in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after acquiring an additional 7 shares in the last quarter. St. Johns Investment Management Company LLC grew its holdings in Alphabet by 1,046.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after acquiring an additional 157 shares in the last quarter. Finally, Catamount Wealth Management grew its holdings in Alphabet by 5.8% during the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock worth $165,000 after acquiring an additional 10 shares in the last quarter. 34.66% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on GOOG shares. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Wells Fargo & Co reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. UBS Group reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Jefferies Group reiterated a “buy” rating on shares of Alphabet in a report on Friday. Finally, Societe Generale restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and an average price target of $1,059.10.

In other news, VP James Grier Campbell sold 238 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1,162.61, for a total value of $276,701.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1,020.69, for a total transaction of $4,082,760.00. Following the completion of the transaction, the chief executive officer now owns 949 shares of the company’s stock, valued at approximately $968,634.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,955 shares of company stock valued at $34,431,704. 13.92% of the stock is owned by insiders.

Shares of Alphabet Inc (NASDAQ:GOOG) traded down $55.80 during trading on Friday, reaching $1,111.90. 4,836,777 shares of the company’s stock were exchanged, compared to its average volume of 1,310,000. The stock has a market cap of $777,120.00, a P/E ratio of 37.04 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc has a 52 week low of $792.00 and a 52 week high of $1,186.89.

Alphabet announced that its Board of Directors has approved a share buyback plan 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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