Brilliance Asset Management Ltd. Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Brilliance Asset Management Ltd. has made a new investment in Alphabet Inc., acquiring approximately 38,738 shares valued at $6.05 million, constituting about 2.0% of its portfolio.
• Analyst ratings for Alphabet show a strong favor, with 17 analysts$215.19.
• Alphabet recently declared a quarterly dividend of $0.21 per share, set to be paid on September 15, marking a 0.4% dividend yield for stockholders.

Brilliance Asset Management Ltd. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 38,738 shares of the information services provider's stock, valued at approximately $6,052,000. Alphabet comprises about 2.0% of Brilliance Asset Management Ltd.'s portfolio, making the stock its 8th biggest position.

Several other large investors also recently added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $26,000. LSV Asset Management purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Pivotal Research boosted their target price on Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Stock Up 0.2%

Alphabet stock opened at $197.28 on Friday. The business has a fifty day moving average of $181.28 and a two-hundred day moving average of $174.68. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.39 trillion, a P/E ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Alphabet's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was 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 of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,219 shares of company stock valued at $49,474,273. Corporate insiders own 12.99% of the company's stock.

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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