Value Star Asset Management Hong Kong Ltd Invests $2.66 Million in Alphabet Inc. $GOOGL

Value Star Asset Management Hong Kong Ltd purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the information services provider’s stock, valued at approximately $2,661,000. Alphabet comprises approximately 8.5% of Value Star Asset Management Hong Kong Ltd’s investment portfolio, making the stock its 6th largest holding.

Several other large investors have also modified their holdings of GOOGL. Mystic Asset Management Inc. lifted its holdings in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its holdings in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after acquiring an additional 80 shares during the last quarter. Cypress Capital LLC lifted its holdings in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after acquiring an additional 563 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $283.72 on Tuesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.43 trillion, a PE ratio of 27.98, a P/E/G ratio of 1.86 and a beta of 1.00. The company’s 50 day simple moving average is $245.50 and its 200 day simple moving average is $201.24.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOGL shares. Evercore ISI raised their target price on shares of Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a report on Thursday, October 9th. Loop Capital raised their target price on shares of Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, October 24th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Truist Financial raised their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $302.20.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,442 shares of company stock worth $51,200,307 over the last ninety days. Insiders own 11.64% of the company’s stock.

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.