TB Alternative Assets Ltd. Has $30.62 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

TB Alternative Assets Ltd. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 103.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 195,965 shares of the information services provider's stock after purchasing an additional 99,578 shares during the period. Alphabet makes up about 7.1% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 4th biggest position. TB Alternative Assets Ltd.'s holdings in Alphabet were worth $30,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GOOG. ARQ Wealth Advisors LLC boosted its stake in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after acquiring an additional 1,400 shares during the last quarter. Independence Bank of Kentucky boosted its stake in Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the period. Harvest Investment Services LLC raised its stake in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after purchasing an additional 138 shares during the period. North Forty Two & Co. acquired a new position in shares of Alphabet during the fourth quarter worth about $281,000. Finally, Fermata Advisors LLC grew its holdings in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GOOG shares. Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Westpark Capital reiterated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $204.88.

Alphabet Price Performance

Shares of NASDAQ GOOG traded up $2.71 during mid-day trading on Monday, hitting $177.63. 18,798,166 shares of the stock traded hands, compared to its average volume of 20,382,867. The company has a market cap of $2.16 trillion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a 50 day simple moving average of $161.88 and a two-hundred day simple moving average of $176.09.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the business posted $1.89 earnings per share. The business's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last ninety days. 12.99% of the stock is owned by company insiders.

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.