Central Asset Investments & Management Holdings HK Ltd Raises Holdings in Alphabet Inc. $GOOG

Central Asset Investments & Management Holdings HK Ltd lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 564.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,731 shares of the information services provider’s stock after acquiring an additional 34,600 shares during the quarter. Alphabet makes up 5.1% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 4th biggest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in Alphabet were worth $7,225,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. RDA Financial Network raised its holdings in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $213,000. Tower View Wealth Management LLC raised its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. raised its holdings in Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after acquiring an additional 1,970 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent analyst reports. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer boosted their target price on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. DA Davidson set a $825.00 target price on shares of Alphabet in a research note on Monday, October 27th. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

GOOG opened at $287.43 on Thursday. The company’s 50 day moving average is $256.07 and its 200 day moving average is $208.20. 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 company has a market cap of $3.47 trillion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $292.36.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the firm earned $2.12 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

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.