AIA Group Ltd Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

AIA Group Ltd lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,860 shares of the information services provider’s stock after buying an additional 7,396 shares during the period. AIA Group Ltd’s holdings in Alphabet were worth $27,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in Alphabet during the second quarter valued at about $36,000. Denver PWM LLC bought a new stake in Alphabet during the second quarter valued at about $41,000. Quarry LP bought a new stake in Alphabet during the second quarter valued at about $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet during the second quarter valued at about $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $167.83 on Friday. The firm’s 50 day moving average is $167.50 and its 200-day moving average is $170.38. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 22.26, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm posted $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Evercore ISI lifted their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.