Taikang Asset Management Hong Kong Co Ltd Has $11.24 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Taikang Asset Management Hong Kong Co Ltd reduced its holdings in Alphabet Inc. by 5.0%, selling 3,800 shares during the first quarter, and now owns 72,698 shares worth approximately $11.24 million.
• A number of analysts have recently raised their price targets for Alphabet, with Barclays setting a new target of $235.00 and Bank of America raising theirs to $217.00, reflecting a positive outlook on the stock.
• Alphabet announced a quarterly dividend of $0.21 per share to be paid on September 15, with an annualized yield of 0.4% and a dividend payout ratio of 8.95%.

Taikang Asset Management Hong Kong Co Ltd reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,698 shares of the information services provider's stock after selling 3,800 shares during the period. Alphabet comprises about 1.5% of Taikang Asset Management Hong Kong Co Ltd's investment portfolio, making the stock its 14th largest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Alphabet were worth $11,242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. boosted its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in Alphabet during the first quarter worth about $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the first quarter worth about $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ:GOOGL traded up $1.27 during trading hours on Friday, reaching $212.91. 39,702,089 shares of the company were exchanged, compared to its average volume of 28,893,466. The company has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $214.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day moving average of $190.44 and a 200 day moving average of $174.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 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%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,710 shares of company stock worth $47,225,230. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets upped their price objective on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Barclays upped their price objective on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Cantor Fitzgerald upped their price objective on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citigroup upped their price objective on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, JMP Securities increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Four research 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 stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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.