NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Has $32.98 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1,832.7% during the third quarter, HoldingsChannel.com reports. The firm owned 198,879 shares of the information services provider’s stock after purchasing an additional 188,589 shares during the period. Alphabet makes up approximately 100.0% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd’s portfolio, making the stock its biggest holding. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd’s holdings in Alphabet were worth $32,983,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new position in Alphabet during the 2nd quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 1.9 %

Alphabet stock opened at $171.11 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $122.68 and a 12 month high of $191.75. The company’s fifty day simple moving average is $162.32 and its 200-day simple moving average is $168.79. The stock has a market cap of $2.11 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company posted $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.65 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent research reports. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, TD Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,744 shares of company stock worth $35,878,764. Corporate insiders own 11.55% 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.