Neumann Advisory Hong Kong Ltd Invests $1.21 Million in Alphabet Inc. (NASDAQ:GOOGL)

Neumann Advisory Hong Kong Ltd purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,000 shares of the information services provider’s stock, valued at approximately $1,207,000. Alphabet comprises 0.6% of Neumann Advisory Hong Kong Ltd’s investment portfolio, making the stock its 11th biggest holding.

Several other large investors have also modified their holdings of the stock. Purus Wealth Management LLC grew its holdings in Alphabet by 9.3% during the first quarter. Purus Wealth Management LLC now owns 28,201 shares of the information services provider’s stock worth $4,256,000 after acquiring an additional 2,407 shares during the period. High Net Worth Advisory Group LLC grew its holdings in Alphabet by 3.0% during the first quarter. High Net Worth Advisory Group LLC now owns 11,089 shares of the information services provider’s stock worth $1,674,000 after acquiring an additional 322 shares during the period. City Holding Co. grew its holdings in Alphabet by 0.7% during the first quarter. City Holding Co. now owns 131,693 shares of the information services provider’s stock worth $19,876,000 after acquiring an additional 907 shares during the period. Fort Pitt Capital Group LLC grew its holdings in Alphabet by 36.1% during the first quarter. Fort Pitt Capital Group LLC now owns 895,701 shares of the information services provider’s stock worth $135,188,000 after acquiring an additional 237,559 shares during the period. Finally, Ballentine Partners LLC grew its holdings in Alphabet by 6.3% during the first quarter. Ballentine Partners LLC now owns 138,224 shares of the information services provider’s stock worth $20,862,000 after acquiring an additional 8,162 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GOOGL shares. Wedbush upped their target price on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Needham & Company LLC upped their target price on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Citigroup upped their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Roth Mkm upped their target price on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Tigress Financial upped their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.26.

Alphabet Stock Performance

Alphabet stock opened at $179.22 on Tuesday. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.89. The stock’s 50-day moving average is $170.54 and its 200-day moving average is $153.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $2.21 trillion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the firm earned $1.17 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock worth $26,375,053 in the last 90 days. 11.55% of the stock is owned by corporate 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.