NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Purchases 188,589 Shares of Alphabet Inc. (NASDAQ:GOOGL)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1,832.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 198,879 shares of the information services provider’s stock after purchasing an additional 188,589 shares during the period. Alphabet comprises about 100.0% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd’s investment portfolio, making the stock its largest position. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd’s holdings in Alphabet were worth $32,983,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. James Hambro & Partners LLP lifted its holdings in Alphabet by 2.6% in the third quarter. James Hambro & Partners LLP now owns 44,486 shares of the information services provider’s stock valued at $7,381,000 after buying an additional 1,134 shares during the period. MBE Wealth Management LLC increased its stake in Alphabet by 27.9% in the 3rd quarter. MBE Wealth Management LLC now owns 2,253 shares of the information services provider’s stock valued at $374,000 after buying an additional 492 shares during the last quarter. Bellecapital International Ltd. boosted its holdings in shares of Alphabet by 2.8% in the 3rd quarter. Bellecapital International Ltd. now owns 117,435 shares of the information services provider’s stock valued at $19,477,000 after buying an additional 3,169 shares during the last quarter. Wealth Advisory Solutions LLC increased its position in Alphabet by 3.3% during the third quarter. Wealth Advisory Solutions LLC now owns 7,459 shares of the information services provider’s stock worth $1,237,000 after buying an additional 239 shares during the last quarter. Finally, Arlington Partners LLC boosted its holdings in shares of Alphabet by 17.8% during the 3rd quarter. Arlington Partners LLC now owns 22,267 shares of the information services provider’s stock worth $3,693,000 after buying an additional 3,367 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,744 shares of company stock valued at $35,878,764. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.9 %

NASDAQ:GOOGL opened at $171.11 on Friday. The business’s 50-day moving average is $162.32 and its two-hundred day moving average is $168.79. Alphabet Inc. has a 12 month low of $122.68 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $2.11 trillion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. Research analysts predict that Alphabet Inc. will post 7.65 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday. Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Wednesday. Finally, Morgan Stanley increased their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Company 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.