Krane Funds Advisors LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Krane Funds Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 28.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,059 shares of the information services provider’s stock after acquiring an additional 1,791 shares during the period. Alphabet comprises approximately 0.0% of Krane Funds Advisors LLC’s portfolio, making the stock its 29th largest position. Krane Funds Advisors LLC’s holdings in Alphabet were worth $1,259,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ethos Financial Group LLC raised its holdings in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after acquiring an additional 53 shares in the last quarter. Hutchinson Capital Management CA raised its stake in shares of Alphabet by 1.5% in the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after buying an additional 54 shares in the last quarter. M. Kulyk & Associates LLC raised its stake in shares of Alphabet by 0.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock valued at $1,227,000 after buying an additional 56 shares in the last quarter. Retirement Planning Co of New England Inc. raised its stake in shares of Alphabet by 0.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock valued at $3,043,000 after buying an additional 56 shares in the last quarter. Finally, Concentrum Wealth Management raised its stake in shares of Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.6%

Alphabet stock opened at $179.76 on Thursday. The company’s 50 day simple moving average is $169.27 and its 200 day simple moving average is $175.84. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm earned $1.89 EPS. Alphabet’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Scotiabank dropped their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and six have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.38.

Get Our Latest Research Report on Alphabet

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,143 shares of company stock valued at $30,529,028. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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