Y Intercept Hong Kong Ltd Has $16.93 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Y Intercept Hong Kong Ltd grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 205.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,344 shares of the information services provider's stock after buying an additional 72,874 shares during the quarter. Alphabet accounts for about 1.1% of Y Intercept Hong Kong Ltd's investment portfolio, making the stock its 3rd biggest holding. Y Intercept Hong Kong Ltd's holdings in Alphabet were worth $16,927,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $5,166,070,000. GAMMA Investing LLC lifted its stake in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares during the last quarter. Northern Trust Corp lifted its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. GQG Partners LLC lifted its stake in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares during the last quarter. Finally, Capital International Investors lifted its stake in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

GOOG has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday. KeyCorp decreased their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Finally, Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was 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 approximately $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock valued at $43,523,710 in the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG traded up $1.72 on Thursday, hitting $193.23. 41,227,376 shares of the stock traded hands, compared to its average volume of 24,191,932. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The business's fifty day moving average is $175.77 and its two-hundred day moving average is $174.72.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.