Alphabet Inc. (NASDAQ:GOOG) is TB Alternative Assets Ltd.’s 9th Largest Position

TB Alternative Assets Ltd. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,000 shares of the information services provider’s stock after selling 1,800 shares during the quarter. Alphabet makes up approximately 3.0% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 9th largest position. TB Alternative Assets Ltd.’s holdings in Alphabet were worth $12,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $4,101,040,000. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $11,600,970,000. Cerity Partners LLC lifted its stake in shares of Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,374 shares of company stock worth $24,548,073. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 0.1 %

GOOG stock traded down $0.21 during mid-day trading on Wednesday, reaching $185.37. The company had a trading volume of 13,348,003 shares, compared to its average volume of 21,367,201. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The firm has a fifty day simple moving average of $172.69 and a 200 day simple moving average of $154.76. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $185.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOOG shares. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus target price of $165.67.

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.