Alphabet Inc. $GOOGL Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 28.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,220 shares of the information services provider’s stock after selling 19,101 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Alphabet were worth $8,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Alphabet during the 1st quarter worth about $4,317,606,000. Vanguard Group Inc. increased its stake in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Amundi lifted its stake in shares of Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. lifted its stake in shares of Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 222,396 shares of company stock valued at $54,105,275. Corporate insiders own 11.64% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $278.83 on Friday. The stock has a market capitalization of $3.37 trillion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a 50 day moving average price of $251.23 and a two-hundred day moving average price of $204.19. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOGL. Daiwa Capital Markets boosted their price target on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Evercore ISI increased their price target on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Barclays restated an “overweight” rating and issued a $315.00 target price (up from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Alphabet Company Profile

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.