Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 17.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,941 shares of the information services provider’s stock after purchasing an additional 8,760 shares during the quarter. Alphabet makes up 0.6% of E Fund Management Co. Ltd.’s investment portfolio, making the stock its 25th biggest holding. E Fund Management Co. Ltd.’s holdings in Alphabet were worth $10,994,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in Alphabet during the 4th quarter valued at approximately $34,000. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter valued at approximately $37,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet during the 2nd quarter valued at approximately $44,000. Hoese & Co LLP raised its stake in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in Alphabet during the 2nd quarter valued at approximately $48,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on GOOG shares. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Stock Performance

NASDAQ GOOG opened at $160.81 on Thursday. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a market capitalization of $1.99 trillion, a P/E ratio of 24.66, a PEG ratio of 1.13 and a beta of 1.04. The business has a 50 day moving average price of $167.19 and a 200 day moving average price of $166.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the business posted $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock valued at $33,964,256 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.