GF Fund Management CO. LTD. Makes New $89.17 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

GF Fund Management CO. LTD. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 471,042 shares of the information services provider's stock, valued at approximately $89,168,000. Alphabet comprises about 1.9% of GF Fund Management CO. LTD.'s portfolio, making the stock its 10th largest position.

Other large investors have also recently bought and sold shares of the company. Bennett Selby Investments LP grew its position in Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after acquiring an additional 52 shares in the last quarter. Macroview Investment Management LLC lifted its stake in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after buying an additional 52 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after purchasing an additional 53 shares during the period. Addison Advisors LLC increased its holdings in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Finally, Burt Wealth Advisors increased its holdings in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. KeyCorp raised their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Morgan Stanley cut their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Citigroup increased their price target on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Cantor Fitzgerald cut their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a report on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock valued at $26,793,380 over the last 90 days. Company insiders own 11.55% of the company's stock.

Alphabet Trading Up 0.1%

GOOGL traded up $0.20 on Wednesday, hitting $173.10. 16,360,314 shares of the company were exchanged, compared to its average volume of 35,464,711. The stock has a market capitalization of $2.10 trillion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm has a fifty day simple moving average of $158.87 and a two-hundred day simple moving average of $174.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio is 9.36%.

Alphabet 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.