NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Purchases Shares of 15,246 Alphabet Inc. (NASDAQ:GOOGL)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,246 shares of the information services provider’s stock, valued at approximately $2,130,000. Alphabet accounts for approximately 19.4% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd’s portfolio, making the stock its 2nd biggest position.

Several other institutional investors also recently modified their holdings of the company. Live Oak Investment Partners bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. VitalStone Financial LLC boosted its stake in Alphabet by 1,900.0% in the 2nd quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock valued at $34,000 after buying an additional 266 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Alphabet in the fourth quarter valued at $34,000. Turim 21 Investimentos Ltda. acquired a new position in Alphabet during the third quarter worth $38,000. Finally, Meritage Group LP lifted its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $150.87 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 52 week low of $99.74 and a 52 week high of $153.78. The company’s 50 day moving average price is $143.33 and its two-hundred day moving average price is $138.03. The company has a market capitalization of $1.88 trillion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period in the prior year, the business earned $1.05 EPS. On average, analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. KeyCorp upped their target price on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Roth Mkm dropped their price objective on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Mizuho increased their price target on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Wolfe Research lifted their price objective on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $155.48.

Insider Activity

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $140.11, for a total value of $3,152,475.00. Following the sale, the chief executive officer now directly owns 2,422,691 shares of the company’s stock, valued at approximately $339,443,236.01. The disclosure for this sale can be found here. Insiders have sold 251,378 shares of company stock worth $35,461,377 over the last ninety days. Insiders own 0.88% of the company’s stock.

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.