Alphabet Inc. $GOOG Shares Sold by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,446 shares of the information services provider’s stock after selling 265 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Alphabet were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. RDA Financial Network grew its holdings in shares of Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the period. Tower View Wealth Management LLC increased its position in shares of Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares in the last quarter. Oldfather Financial Services LLC acquired a new stake in shares of Alphabet in the second quarter worth $213,000. Truist Financial Corp boosted its stake in shares of Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after purchasing an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC boosted its stake in shares of Alphabet by 115.7% in the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after purchasing an additional 115,003 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday. Jefferies Financial Group increased their price target on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

Alphabet Stock Performance

Alphabet stock opened at $237.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a fifty day moving average price of $226.97 and a two-hundred day moving average price of $189.81. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a P/E/G ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) 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.