90,991 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Shengqi Capital Hong Kong Ltd

Shengqi Capital Hong Kong Ltd purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 90,991 shares of the information services provider’s stock, valued at approximately $17,225,000. Alphabet comprises about 10.5% of Shengqi Capital Hong Kong Ltd’s holdings, making the stock its 3rd largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its stake in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC increased its stake in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC increased its stake in Alphabet by 1.5% in the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock valued at $9,581,427,000 after purchasing an additional 757,138 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Alphabet by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock valued at $7,278,910,000 after purchasing an additional 1,218,639 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOGL shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a report on Wednesday. Bank of America reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday. Finally, DA Davidson upped their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Price Performance

Shares of Alphabet stock opened at $163.89 on Thursday. Alphabet Inc. has a twelve month low of $146.74 and a twelve month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $183.75 and a two-hundred day simple moving average of $176.47. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

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.