Taikang Asset Management Hong Kong Co Ltd Has $23.64 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Taikang Asset Management Hong Kong Co Ltd lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 57.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spreng Capital Management Inc. raised its position in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. lifted its position in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. grew its position in shares of Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC raised its stake in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its holdings in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the period. Institutional investors own 35.08% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet 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 sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares of the company’s stock, valued at $627,014.52. The disclosure for this sale can be found here. Insiders sold 176,576 shares of company stock valued at $23,425,367 in the last quarter. 0.88% of the stock is currently owned by insiders.

Alphabet Stock Up 0.7 %

Shares of GOOGL stock opened at $136.25 on Tuesday. Alphabet Inc. has a 52-week low of $84.86 and a 52-week high of $141.22. 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 stock has a market cap of $1.71 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05. The firm’s 50-day moving average is $133.42 and its 200-day moving average is $127.88.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. Sell-side analysts predict that Alphabet Inc. will post 5.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Roth Mkm upped their target price on shares of Alphabet from $146.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Needham & Company LLC raised their target price on Alphabet from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Barclays lowered their price target on Alphabet from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Evercore ISI upped their target price on shares of Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Finally, Loop Capital lifted their price target on shares of Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.