OVERSEA CHINESE BANKING Corp Ltd Trims Stock Holdings in Alphabet Inc. $GOOG

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,198 shares of the information services provider’s stock after selling 11,109 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Alphabet were worth $14,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. IFS Advisors LLC boosted its stake in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley lifted its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC boosted its position in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Finally, University of Illinois Foundation purchased a new position in Alphabet during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial set a $350.00 target price on shares of Alphabet in a research note on Friday, December 5th. Loop Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Rosenblatt Securities set a $279.00 target price on Alphabet in a research report on Thursday, October 30th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $375.00 price target (up previously from $336.00) on shares of Alphabet in a report on Friday, January 9th. Seven research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $321.97.

Check Out Our Latest Stock Report on GOOG

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the sale, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at approximately $725,942,020.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 192,687 shares of company stock worth $58,728,068 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $328.38 on Thursday. The firm has a market capitalization of $3.96 trillion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $341.20. The business’s 50-day moving average price is $314.27 and its 200-day moving average price is $258.65.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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