Caitong International Asset Management Co. Ltd Raises Position in Alphabet Inc. $GOOG

Key Points

• Caitong International Asset Management increased its Alphabet stake by 505% in the fourth quarter, buying 10,727 shares to bring its total holding to 12,851 shares worth about $4.0 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus estimates of $2.68 and revenue of $109.9 billion, topping expectations and reflecting 21.8% year-over-year revenue growth.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain broadly bullish with a Buy consensus and a price target around $376.78.

Caitong International Asset Management Co. Ltd lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 505.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,851 shares of the information services provider's stock after buying an additional 10,727 shares during the period. Alphabet comprises 1.0% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its 16th largest holding. Caitong International Asset Management Co. Ltd's holdings in Alphabet were worth $4,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Ring Mountain Capital LLC raised its holdings in Alphabet by 0.9% in the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock worth $1,174,000 after acquiring an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. boosted its stake in Alphabet by 1.9% during the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock valued at $499,000 after purchasing an additional 30 shares during the last quarter. HRC Wealth Management LLC boosted its stake in Alphabet by 1.0% during the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider's stock valued at $1,014,000 after purchasing an additional 31 shares during the last quarter. Certior Financial Group LLC increased its holdings in shares of Alphabet by 3.5% in the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider's stock worth $288,000 after purchasing an additional 31 shares in the last quarter. Finally, Synergy Investment Management LLC increased its holdings in shares of Alphabet by 0.8% in the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider's stock worth $1,294,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG stock opened at $367.46 on Monday. The company has a market cap of $4.45 trillion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock's fifty day moving average price is $364.31 and its 200-day moving average price is $331.18.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet's revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.81 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's payout ratio is 6.71%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 160,516 shares of company stock worth $7,344,604. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOG. Oppenheimer upped their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Truist Financial set a $430.00 price objective on Alphabet in a report on Monday, June 1st. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. TD Cowen upped their target price on shares of Alphabet from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Finally, Scotiabank restated an "outperform" rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Buy" and a consensus price target of $376.78.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Alphabet Company Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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