Caitong International Asset Management Co. Ltd Has $63,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Caitong International Asset Management Co. Ltd lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 94.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 406 shares of the information services provider’s stock after selling 6,654 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Alphabet were worth $63,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter valued at $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the 1st quarter valued at $32,000. Goodman Advisory Group LLC bought a new position in Alphabet during the 1st quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. bought a new position in Alphabet during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOG shares. Citigroup restated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Pivotal Research raised their target price on Alphabet from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $215.19.

Alphabet Stock Up 0.5%

GOOG stock opened at $204.91 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.48 trillion, a PE ratio of 21.82, a PEG ratio of 1.35 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock has a 50-day simple moving average of $185.21 and a two-hundred day simple moving average of $174.87.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,819 shares of company stock valued at $49,796,547 in the last quarter. 12.99% 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.