OVERSEA CHINESE BANKING Corp Ltd Purchases 14,125 Shares of Alphabet Inc. $GOOGL

OVERSEA CHINESE BANKING Corp Ltd boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 762,119 shares of the information services provider’s stock after acquiring an additional 14,125 shares during the period. Alphabet comprises approximately 3.7% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 5th biggest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Alphabet were worth $134,103,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. grew its position in shares of Alphabet by 0.7% in the second quarter. Envestnet Asset Management Inc. now owns 6,841,413 shares of the information services provider’s stock valued at $1,205,640,000 after purchasing an additional 47,253 shares during the period. Chilton Capital Management LLC boosted its stake in Alphabet by 3.1% in the 2nd quarter. Chilton Capital Management LLC now owns 124,887 shares of the information services provider’s stock worth $22,009,000 after buying an additional 3,792 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Alphabet by 22.9% in the 2nd quarter. Resonant Capital Advisors LLC now owns 38,880 shares of the information services provider’s stock valued at $6,852,000 after buying an additional 7,251 shares during the period. Wealthfront Advisers LLC increased its stake in shares of Alphabet by 9.4% during the 2nd quarter. Wealthfront Advisers LLC now owns 699,842 shares of the information services provider’s stock valued at $123,333,000 after acquiring an additional 59,962 shares during the last quarter. Finally, New Hampshire Trust increased its stake in shares of Alphabet by 1.3% during the 2nd quarter. New Hampshire Trust now owns 44,899 shares of the information services provider’s stock valued at $7,913,000 after acquiring an additional 597 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.2%

NASDAQ:GOOGL opened at $284.75 on Friday. The business’s 50-day moving average is $249.91 and its two-hundred day moving average is $203.28. The firm has a market capitalization of $3.44 trillion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. CIBC boosted their target price on shares of Alphabet to $315.00 in a report on Monday, October 20th. BNP Paribas Exane lifted their price target on shares of Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a report on Monday. KeyCorp restated an “overweight” rating and set a $300.00 price objective (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft lifted their target price on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Needham & Company LLC boosted their price target on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 189,896 shares of company stock valued at $44,892,175. 11.64% of the stock is currently owned by corporate insiders.

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.