Alphabet Inc. (NASDAQ:GOOGL) is Fosun International Ltd's 6th Largest Position

Fosun International Ltd lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,539 shares of the information services provider's stock after selling 7,499 shares during the quarter. Alphabet accounts for approximately 1.0% of Fosun International Ltd's portfolio, making the stock its 6th largest position. Fosun International Ltd's holdings in Alphabet were worth $3,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Full Sail Capital LLC boosted its stake in Alphabet by 2.3% in the 4th quarter. Full Sail Capital LLC now owns 11,597 shares of the information services provider's stock worth $2,195,000 after purchasing an additional 257 shares during the period. Fullerton Fund Management Co Ltd. raised its position in Alphabet by 14.0% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 128,317 shares of the information services provider's stock worth $24,290,000 after purchasing an additional 15,773 shares during the period. Elefante Mark B purchased a new stake in Alphabet during the fourth quarter valued at about $5,491,000. Ethic Inc. boosted its holdings in Alphabet by 14.8% during the 4th quarter. Ethic Inc. now owns 592,326 shares of the information services provider's stock valued at $112,127,000 after acquiring an additional 76,452 shares during the period. Finally, Eschler Asset Management LLP increased its stake in shares of Alphabet by 8.6% in the fourth quarter. Eschler Asset Management LLP now owns 19,159 shares of the information services provider's stock worth $3,646,000 after buying an additional 1,519 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 3.7%

Shares of NASDAQ GOOGL traded up $5.71 on Monday, reaching $158.46. 44,064,211 shares of the company traded hands, compared to its average volume of 28,840,151. The company has a 50 day moving average of $158.93 and a 200 day moving average of $175.27. The stock has a market capitalization of $1.92 trillion, a PE ratio of 19.68, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating 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 business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet's payout ratio is currently 9.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOOGL shares. Piper Sandler upped their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Wedbush set a $190.00 target price on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Sanford C. Bernstein upped their price target on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Susquehanna reduced their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Finally, JMP Securities reissued a "market perform" rating on shares of Alphabet in a report on Tuesday, May 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.75.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 2,824 shares of Alphabet stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,815,948.32. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is currently owned by company insiders.

About Alphabet

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.