Greenwoods Asset Management Hong Kong Ltd. Reduces Holdings in Alphabet Inc. $GOOGL

Key Points

• Greenwoods Asset Management Hong Kong Ltd. has reduced its stake in Alphabet Inc. by 90.8% during the 1st quarter, from 501,299 shares to 45,990 shares, making Alphabet only 0.2% of its investment portfolio.
• Alphabet's stock has recently increased by 3.2%, reaching an opening price of $206.09, with a market capitalization of $2.49 trillion and notable earnings that surpassed estimates for the last quarter.
• The company announced a quarterly dividend of $0.21 per share, which has an annualized yield of 0.4% and a dividend payout ratio of 8.95%.

Greenwoods Asset Management Hong Kong Ltd. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 90.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,990 shares of the information services provider's stock after selling 455,309 shares during the period. Alphabet accounts for about 0.2% of Greenwoods Asset Management Hong Kong Ltd.'s holdings, making the stock its 24th biggest position. Greenwoods Asset Management Hong Kong Ltd.'s holdings in Alphabet were worth $7,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Eagle Capital Management LLC lifted its stake in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Highview Capital Management LLC DE boosted its stake in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC grew its holdings in shares of Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after acquiring an additional 13,564 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. UBS Group lifted their target price on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Westpark Capital lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Roth Capital raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets lifted 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. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $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. Insiders sold 254,719 shares of company stock worth $47,223,172 over the last 90 days. Company insiders own 11.55% of the company's stock.

Alphabet Price Performance

GOOGL traded down $1.74 on Tuesday, hitting $206.75. 12,821,816 shares of the company's stock traded hands, compared to its average volume of 36,182,297. The company's 50 day simple moving average is $187.44 and its 200-day simple moving average is $173.28. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a one year low of $140.53 and a one year high of $210.52. The firm has a market cap of $2.50 trillion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

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.