OVERSEA CHINESE BANKING Corp Ltd Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

OVERSEA CHINESE BANKING Corp Ltd boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 129.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,677,823 shares of the information services provider's stock after acquiring an additional 947,555 shares during the period. Alphabet comprises approximately 1.2% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 17th biggest holding. OVERSEA CHINESE BANKING Corp Ltd's holdings in Alphabet were worth $259,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Eagle Capital Management LLC raised its stake in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE grew its position in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after buying an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC grew its position in Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after purchasing an additional 13,564 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock worth $43,523,710 in the last ninety days. Company insiders own 11.64% of the company's stock.

Alphabet Stock Up 1.9%

GOOGL traded up $3.70 during mid-day trading on Thursday, reaching $193.93. 56,671,075 shares of the stock were exchanged, compared to its average volume of 36,920,125. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $2.35 trillion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a 50 day moving average price of $174.67 and a two-hundred day moving average price of $173.13. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the firm earned $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOGL. Wedbush upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday. Rosenblatt Securities increased their target price on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday. Barclays upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday. JMP Securities upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday. Finally, Mizuho dropped their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $210.79.

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.