Factory Mutual Insurance Co. Has $280.73 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Factory Mutual Insurance Co. decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,679,121 shares of the information services provider’s stock after selling 53,099 shares during the quarter. Alphabet accounts for about 2.9% of Factory Mutual Insurance Co.’s portfolio, making the stock its 6th largest position. Factory Mutual Insurance Co.’s holdings in Alphabet were worth $280,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Clarity Capital Partners LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $291,000. WNY Asset Management LLC increased its stake in Alphabet by 15.1% in the 4th quarter. WNY Asset Management LLC now owns 16,663 shares of the information services provider’s stock worth $2,348,000 after purchasing an additional 2,185 shares during the period. Scarborough Advisors LLC lifted its position in Alphabet by 526.4% in the fourth quarter. Scarborough Advisors LLC now owns 14,088 shares of the information services provider’s stock valued at $1,985,000 after purchasing an additional 11,839 shares during the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $799,000. Finally, Gordian Capital Singapore Pte Ltd grew its holdings in shares of Alphabet by 6.1% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 50,270 shares of the information services provider’s stock worth $7,085,000 after purchasing an additional 2,870 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.8 %

Shares of Alphabet stock traded up $1.34 during trading on Friday, hitting $164.52. The company’s stock had a trading volume of 10,945,971 shares, compared to its average volume of 19,793,420. The company has a fifty day simple moving average of $162.81 and a two-hundred day simple moving average of $169.25. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a market capitalization of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer reduced their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Finally, UBS Group decreased their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $186.90.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,092 shares of company stock worth $35,644,136. Insiders own 12.99% of the company’s stock.

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.