Alphabet Inc. $GOOG is TB Alternative Assets Ltd.'s Largest Position

Key Points

• TB Alternative Assets Ltd. has increased its stake in Alphabet Inc. by 54.1%, making it the largest position in their portfolio at $53.57 million, which represents 9.9% of their total investments.
• Other major investors, including Vanguard Group and Kingstone Capital Partners, have also increased their holdings, indicating strong institutional interest in Alphabet.
• Alphabet recently reported a quarterly earnings per share (EPS) of $2.31, exceeding analyst expectations and showing a year-over-year revenue increase of 13.8% to $96.43 billion.

TB Alternative Assets Ltd. lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 54.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 302,032 shares of the information services provider's stock after acquiring an additional 106,067 shares during the quarter. Alphabet accounts for 9.9% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its largest position. TB Alternative Assets Ltd.'s holdings in Alphabet were worth $53,577,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC lifted its holdings in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG increased its position in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock valued at $3,183,979,000 after acquiring an additional 440,526 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $247.18 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company's fifty day moving average price is $216.61 and its 200 day moving average price is $184.28.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the company posted $1.89 earnings per share. The business's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOG. KeyCorp set a $265.00 price target on Alphabet in a research report on Wednesday, September 3rd. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Roth Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, UBS Group boosted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $230.35.

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.

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