Greenwoods Asset Management Hong Kong Ltd. Makes New Investment in Alphabet Inc. $GOOG

Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 3,596 shares of the information services provider’s stock, valued at approximately $876,000.

Several other large investors have also recently made changes to their positions in GOOG. Brighton Jones LLC increased its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of Alphabet by 1.0% in the second quarter. Ignite Planners LLC now owns 14,506 shares of the information services provider’s stock valued at $2,697,000 after purchasing an additional 144 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Alphabet by 7.4% in the second quarter. Sequoia Financial Advisors LLC now owns 594,959 shares of the information services provider’s stock valued at $105,540,000 after purchasing an additional 41,132 shares in the last quarter. Joseph P. Lucia & Associates LLC increased its position in Alphabet by 3.7% in the second quarter. Joseph P. Lucia & Associates LLC now owns 3,134 shares of the information services provider’s stock worth $556,000 after purchasing an additional 111 shares during the last quarter. Finally, Moser Wealth Advisors LLC raised its stake in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after purchasing an additional 55 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Raymond James Financial raised shares of Alphabet from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $315.00 to $400.00 in a research note on Thursday, January 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Alphabet in a report on Thursday, February 5th. Canaccord Genuity Group boosted their price objective on Alphabet from $330.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $370.00 price objective on shares of Alphabet in a research note on Tuesday, January 20th. Finally, Wolfe Research lifted their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Eight research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $343.90.

View Our Latest Research Report on GOOG

Alphabet Trading Down 1.0%

Shares of NASDAQ GOOG opened at $311.69 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $350.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market cap of $3.77 trillion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.85 and a beta of 1.10. The business’s 50 day moving average price is $321.00 and its 200-day moving average price is $280.89.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. During the same quarter in the prior year, the company posted $2.15 EPS. Alphabet’s quarterly revenue was up 18.0% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $327.30, for a total transaction of $10,637,250.00. Following the completion of the transaction, the chief executive officer owned 2,211,872 shares in the company, valued at $723,945,705.60. This represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,112,482 shares of company stock worth $119,145,289. 12.99% of the stock is currently owned by corporate insiders.

More Alphabet News

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Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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