Taikang Asset Management Hong Kong Co Ltd Has $7.21 Million Position in Alphabet Inc. $GOOG

Taikang Asset Management Hong Kong Co Ltd raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,652 shares of the information services provider’s stock after acquiring an additional 4,644 shares during the quarter. Alphabet makes up 0.9% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 21st largest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in Alphabet were worth $7,211,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. IFS Advisors LLC boosted its position in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley increased its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC raised its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. University of Illinois Foundation acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $31,000. Finally, Fairman Group LLC boosted 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 worth $31,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 227,850 shares of company stock valued at $58,874,814. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $315.12 on Tuesday. The firm has a market cap of $3.80 trillion, a price-to-earnings ratio of 31.08, 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 $328.67. 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 stock has a 50-day moving average price of $271.07 and a 200 day moving average price of $221.40.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 EPS. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOG. Morgan Stanley raised their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. BMO Capital Markets restated an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Wolfe Research lifted their price target on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. HSBC reissued a “buy” rating and set a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $307.22.

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.