Caitong International Asset Management Co. Ltd Has $472,000 Holdings in Alphabet Inc. $GOOG

Caitong International Asset Management Co. Ltd boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 555.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,662 shares of the information services provider’s stock after buying an additional 2,256 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Alphabet were worth $472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $26,000. IFS Advisors LLC increased its holdings in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley increased its holdings in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC increased its holdings in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Finally, Fairman Group LLC increased its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOOG shares. Scotiabank reiterated an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a report on Thursday, October 16th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer set a $300.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday, October 20th. Pivotal Research boosted their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Friday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.68.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the transaction, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.7%

Shares of NASDAQ:GOOG opened at $260.51 on Monday. The company has a market cap of $3.15 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.76 and a beta of 1.00. The stock’s 50-day moving average is $237.33 and its 200-day moving average is $196.91. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $262.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet 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.