E Fund Management Co. Ltd. Buys 38,659 Shares of Alphabet Inc. $GOOGL

E Fund Management Co. Ltd. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 39.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,737 shares of the information services provider's stock after buying an additional 38,659 shares during the quarter. Alphabet comprises approximately 1.0% of E Fund Management Co. Ltd.'s holdings, making the stock its 19th largest position. E Fund Management Co. Ltd.'s holdings in Alphabet were worth $21,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Nia Impact Advisors LLC grew its stake in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares in the last quarter. Enzi Wealth grew its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares in the last quarter. Whipplewood Advisors LLC grew its stake in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares in the last quarter. Aspire Capital Advisors LLC grew its stake in shares of Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after purchasing an additional 67 shares in the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. boosted its stake in Alphabet by 2.1% during the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after buying an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL traded down $1.93 during trading on Tuesday, reaching $201.57. 24,186,261 shares of the company's stock were exchanged, compared to its average volume of 36,481,480. The business has a 50 day moving average price of $185.26 and a 200-day moving average price of $173.20. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.47, a PEG ratio of 1.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on GOOGL shares. Truist Financial reaffirmed a "buy" rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. JMP Securities raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley raised their price target on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $211.53.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred 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 owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock valued at $49,796,547 over the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Company Profile

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.