Krane Funds Advisors LLC Acquires 1,791 Shares of Alphabet Inc. (NASDAQ:GOOG)

Krane Funds Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 28.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,059 shares of the information services provider's stock after acquiring an additional 1,791 shares during the quarter. Alphabet makes up about 0.0% of Krane Funds Advisors LLC's investment portfolio, making the stock its 29th largest holding. Krane Funds Advisors LLC's holdings in Alphabet were worth $1,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principia Wealth Advisory LLC lifted its position 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 bought a new position in shares of Alphabet during the first quarter worth approximately $26,000. LSV Asset Management acquired a new stake in Alphabet during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC bought a new stake in Alphabet in the 1st quarter valued at $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in Alphabet in the 4th quarter valued at $38,000. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,143 shares of company stock valued at $30,529,028 in the last three months. Insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.3%

Alphabet stock traded up $0.46 during trading hours on Thursday, hitting $180.22. The stock had a trading volume of 13,287,389 shares, compared to its average volume of 21,127,656. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business's 50 day simple moving average is $169.27 and its 200-day simple moving average is $175.84. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results 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 net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. KeyCorp reduced their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and six have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $206.38.

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.