Central Asset Investments & Management Holdings HK Ltd Has $955,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Central Asset Investments & Management Holdings HK Ltd lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 81.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,712 shares of the information services provider’s stock after selling 24,688 shares during the period. Alphabet accounts for 0.9% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 17th largest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Alphabet were worth $955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of Alphabet in the 1st quarter valued at $1,378,708,000. Capital International Investors raised its holdings in Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares during the last quarter. Vima LLC boosted its stake in shares of Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after acquiring an additional 2,000,000 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its holdings in shares of Alphabet by 6,610.0% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after acquiring an additional 1,742,794 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $173.89 on Friday. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company’s 50 day moving average price is $167.01 and its two-hundred day moving average price is $171.65. The company has a market capitalization of $2.13 trillion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock worth $34,471,141. Insiders own 12.99% of the company’s stock.

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.