Taikang Asset Management Hong Kong Co Ltd Sells 3,800 Shares of Alphabet Inc. $GOOGL

Taikang Asset Management Hong Kong Co Ltd trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,698 shares of the information services provider’s stock after selling 3,800 shares during the quarter. Alphabet accounts for about 1.5% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 14th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Alphabet were worth $11,242,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Alphabet during the 1st quarter valued at $4,317,606,000. GAMMA Investing LLC raised its holdings in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 307.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after acquiring an additional 7,774,811 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Bank of America raised their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Susquehanna raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. Finally, Loop Capital reaffirmed a “hold” rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.53.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock worth $47,223,172 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $207.48 on Thursday. The stock has a market cap of $2.51 trillion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.39 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $210.52. The company’s 50 day moving average is $188.75 and its two-hundred day moving average is $173.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

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.