Greenwoods Asset Management Hong Kong Ltd. Purchases 453,694 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Greenwoods Asset Management Hong Kong Ltd. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 953.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 501,299 shares of the information services provider’s stock after acquiring an additional 453,694 shares during the quarter. Alphabet accounts for about 3.0% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 11th largest position. Greenwoods Asset Management Hong Kong Ltd.’s holdings in Alphabet were worth $94,896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GOOGL. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. LMR Partners LLP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wedbush raised their price target on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Bank of America reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.59.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $163.89 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $183.75 and its two-hundred day moving average price is $176.47. The firm has a market cap of $2.00 trillion, a PE ratio of 20.36, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $146.74 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

About Alphabet

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.