Taikang Asset Management Hong Kong Co Ltd Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Taikang Asset Management Hong Kong Co Ltd reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 57.7% in the second quarter, HoldingsChannel.com reports. The fund owned 25,198 shares of the information services provider’s stock after selling 34,362 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Alphabet were worth $23,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $114,000. Bridgefront Capital LLC bought a new stake in Alphabet in the first quarter worth $225,000. Worth Asset Management LLC purchased a new stake in Alphabet during the first quarter valued at about $206,000. Eudaimonia Advisors LLC increased its holdings in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $281,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $136.25 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. The company has a fifty day moving average of $133.42 and a 200 day moving average of $127.88. The company has a market capitalization of $1.71 trillion, a P/E ratio of 26.15, a P/E/G ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $84.86 and a fifty-two week high of $141.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the transaction, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the sale, the director now directly owns 7,184 shares in the company, valued at approximately $954,897.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,576 shares of company stock worth $23,425,367. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Wedbush reissued an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Susquehanna restated a “positive” rating and issued a $150.00 price objective on shares of Alphabet in a research report on Thursday, August 31st. Rosenblatt Securities increased their target price on shares of Alphabet from $163.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, StockNews.com downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 14th. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.