Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 730,268 shares of the information services provider’s stock after selling 71,085 shares during the period. Alphabet comprises about 3.9% of OVERSEA CHINESE BANKING Corp Ltd’s portfolio, making the stock its 5th largest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Alphabet were worth $138,442,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn FI LLC lifted its position in Alphabet by 6,299.7% during the fourth quarter. Brooklyn FI LLC now owns 160,120 shares of the information services provider’s stock valued at $28,016,000 after acquiring an additional 157,618 shares during the last quarter. Enhancing Capital LLC acquired a new position in shares of Alphabet during the fourth quarter worth $1,155,000. Xponance Inc. lifted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Xponance Inc. now owns 1,525,560 shares of the information services provider’s stock valued at $288,789,000 after purchasing an additional 6,882 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Alphabet in the 4th quarter worth $101,592,000. Finally, Horizon Investments LLC increased its position in Alphabet by 23.7% during the 4th quarter. Horizon Investments LLC now owns 9,192 shares of the information services provider’s stock valued at $1,740,000 after buying an additional 1,764 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $154.33 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The company’s fifty day moving average is $179.66 and its 200-day moving average is $176.92. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,812 shares of company stock worth $19,336,979 in the last ninety days. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOGL. Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

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.