China Universal Asset Management Co. Ltd. Has $25.39 Million Stock Holdings in Alphabet Inc. $GOOGL

China Universal Asset Management Co. Ltd. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,052 shares of the information services provider’s stock after selling 25,018 shares during the quarter. Alphabet makes up approximately 2.4% of China Universal Asset Management Co. Ltd.’s portfolio, making the stock its 7th biggest position. China Universal Asset Management Co. Ltd.’s holdings in Alphabet were worth $25,386,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after purchasing an additional 6,733,278 shares during the period. State Street Corp raised its position in Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after buying an additional 4,224,497 shares during the period. Norges Bank bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $21,944,208,000. Finally, Invesco Ltd. increased its stake in shares of Alphabet by 1.2% during the second quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock valued at $7,780,875,000 after buying an additional 503,306 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on GOOGL shares. UBS Group reiterated a “neutral” rating and issued a $306.00 price target (up previously from $255.00) on shares of Alphabet in a report on Thursday, October 30th. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Alphabet in a research report on Tuesday, November 25th. Evercore ISI boosted their price target on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. New Street Research increased their price target on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Finally, BNP Paribas began coverage on Alphabet in a research report on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.22.

Alphabet Stock Down 0.3%

Shares of NASDAQ:GOOGL opened at $308.22 on Tuesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The stock has a market capitalization of $3.72 trillion, a price-to-earnings ratio of 30.40, a PEG ratio of 1.79 and a beta of 1.07. The stock has a fifty day simple moving average of $284.30 and a two-hundred day simple moving average of $230.93. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 222,750 shares of company stock worth $60,496,098. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.