Alphabet Inc. $GOOGL is OVERSEA CHINESE BANKING Corp Ltd’s 5th Largest Position

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 762,119 shares of the information services provider’s stock after buying an additional 14,125 shares during the quarter. Alphabet makes up about 3.7% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 5th largest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Alphabet were worth $134,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Nuveen LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $4,317,606,000. Vanguard Group Inc. increased its holdings in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Amundi raised its stake in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after buying an additional 3,537,173 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. lifted its holdings in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after buying an additional 2,565,400 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% 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, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 189,896 shares of company stock valued at $44,892,175. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOGL shares. Moffett Nathanson boosted their price target on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Piper Sandler restated an “overweight” rating and issued a $330.00 price target (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Cantor Fitzgerald increased their price objective on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Trading Up 0.2%

Shares of NASDAQ:GOOGL opened at $284.75 on Friday. The company has a 50 day moving average of $249.91 and a 200-day moving average of $203.28. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.44 trillion, a P/E ratio of 28.08, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Company 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.