BOCHK Asset Management Ltd Buys Shares of 3,000 Alphabet Inc. $GOOGL

BOCHK Asset Management Ltd bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,000 shares of the information services provider's stock, valued at approximately $529,000. Alphabet makes up approximately 0.2% of BOCHK Asset Management Ltd's investment portfolio, making the stock its 23rd largest position.

Other large investors have also recently made changes to their positions in the company. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the 1st quarter worth $39,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Canaccord Genuity Group upped their target price on Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Wolfe Research upped their target price on Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. HSBC began coverage on Alphabet in a research report on Tuesday. They set a "buy" rating and a $285.00 target price on the stock. Morgan Stanley set a $270.00 target price on Alphabet and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Finally, BMO Capital Markets upped their target price on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $242.98.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares of the company's stock, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the transaction, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is owned by insiders.

Alphabet Stock Down 0.5%

Alphabet stock opened at $244.62 on Thursday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.96 trillion, a PE ratio of 26.05, a PEG ratio of 1.66 and a beta of 1.00. The business's 50-day simple moving average is $224.37 and its two-hundred day simple moving average is $187.53.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 dividend yield of 0.3%. Alphabet's dividend payout ratio is presently 8.95%.

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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