Alphabet Inc. (NASDAQ:GOOGL) is OVERSEA CHINESE BANKING Corp Ltd’s 4th Largest Position

OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 801,353 shares of the information services provider’s stock after purchasing an additional 108,787 shares during the period. Alphabet accounts for 3.7% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 4th largest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Alphabet were worth $132,351,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter worth about $36,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter worth about $41,000. Quarry LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $53,000. Finally, Summit Securities Group LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at about $55,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.9 %

Shares of GOOGL opened at $169.12 on Wednesday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $168.03 and its 200-day moving average price is $170.35. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley increased their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Tigress Financial increased their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target 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.