Alphabet Inc. (NASDAQ:GOOGL) Holdings Reduced by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 76,498 shares of the information services provider’s stock after selling 13,198 shares during the period. Alphabet accounts for approximately 2.1% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 11th biggest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in Alphabet were worth $14,481,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC grew its position in Alphabet by 20,990.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock worth $1,171,151,000 after buying an additional 6,157,413 shares during the last quarter. Amundi boosted its position in Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock worth $5,792,317,000 after acquiring an additional 4,694,621 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Geode Capital Management LLC grew its stake in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Alphabet in the fourth quarter worth approximately $404,545,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,297 shares of company stock valued at $15,936,270. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $150.72 on Friday. The firm has a market capitalization of $1.84 trillion, a PE ratio of 18.72, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $176.24 and a two-hundred day moving average price of $176.77. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOGL. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Westpark Capital upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.