3,596 Shares in Alphabet Inc. $GOOG Purchased by Greenwoods Asset Management Hong Kong Ltd.

Greenwoods Asset Management Hong Kong Ltd. bought a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,596 shares of the information services provider’s stock, valued at approximately $876,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Alphabet during the second quarter valued at approximately $4,298,572,000. JPMorgan Chase & Co. raised its stake in Alphabet by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after buying an additional 7,904,434 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after buying an additional 5,182,111 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 73.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock worth $2,388,775,000 after buying an additional 4,154,929 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of Alphabet by 17,547.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock worth $731,331,000 after buying an additional 4,099,366 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the completion of the transaction, the chief accounting officer owned 8,962 shares of the company’s stock, valued at $2,798,832.60. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $327.30, for a total value of $10,637,250.00. Following the sale, the chief executive officer owned 2,211,872 shares of the company’s stock, valued at $723,945,705.60. This represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,112,482 shares of company stock valued at $119,145,289 over the last three months. Insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Trading Down 1.0%

Alphabet stock opened at $311.69 on Tuesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $350.15. The firm has a market capitalization of $3.77 trillion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 1.85 and a beta of 1.10. The firm has a 50 day moving average of $321.00 and a 200 day moving average of $280.89. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. The business had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The company’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.15 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s dividend payout ratio is presently 7.77%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $395.00 target price on shares of Alphabet in a report on Thursday, February 5th. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a research report on Monday, February 16th. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Pivotal Research restated a “buy” rating and set a $420.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, February 5th. Finally, HSBC reiterated a “buy” rating and issued a $335.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Eight equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $343.90.

View Our Latest Research Report on Alphabet

About Alphabet

(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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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