GF Fund Management CO. LTD. Sells 61,016 Shares of Alphabet Inc. (NASDAQ:GOOG)

GF Fund Management CO. LTD. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 642,650 shares of the information services provider's stock after selling 61,016 shares during the period. Alphabet comprises 2.4% of GF Fund Management CO. LTD.'s portfolio, making the stock its 9th biggest position. GF Fund Management CO. LTD.'s holdings in Alphabet were worth $100,401,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet in the first quarter valued at approximately $26,000. LSV Asset Management bought a new position in Alphabet in the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC bought a new position in Alphabet in the first quarter valued at approximately $32,000. Finally, WealthTrak Capital Management LLC bought a new position in Alphabet in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 0.3%

GOOG traded up $0.46 during trading on Friday, hitting $180.22. The company had a trading volume of 13,287,389 shares, compared to its average volume of 21,210,158. The company has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The firm's 50-day moving average price is $169.97 and its 200 day moving average price is $175.49. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,643 shares of company stock valued at $36,330,928. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.38.

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.