Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 92.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,000 shares of the information services provider’s stock after selling 1,099,400 shares during the period. Alphabet comprises approximately 1.1% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 16th biggest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Alphabet were worth $12,013,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOOGL. Meritage Group LP grew its stake in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Macroview Investment Management LLC boosted its holdings in shares of Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the last quarter. Armor Investment Advisors LLC boosted its holdings in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $55,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in shares of Alphabet by 301.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after acquiring an additional 392 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOGL shares. KeyCorp lifted their target price on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday. Canaccord Genuity Group lifted their target price on shares of Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Finally, Rosenblatt Securities cut their price objective on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,339 shares of company stock worth $36,377,482. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $156.00 on Friday. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.46 and a beta of 1.05. The firm has a 50-day simple moving average of $147.22 and a 200 day simple moving average of $141.16.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

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.