Alphabet Inc. (NASDAQ:GOOGL) is OVERSEA CHINESE BANKING Corp Ltd’s 3rd Largest Position

OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,620 shares of the information services provider’s stock after buying an additional 72,639 shares during the quarter. Alphabet comprises approximately 3.2% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 3rd largest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Alphabet were worth $90,065,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in shares of Alphabet by 4.4% in the fourth quarter. Signaturefd LLC now owns 200,616 shares of the information services provider’s stock valued at $28,024,000 after purchasing an additional 8,528 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its holdings in shares of Alphabet by 4.7% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 16,729 shares of the information services provider’s stock valued at $2,337,000 after purchasing an additional 746 shares in the last quarter. Pathway Financial Advisors LLC grew its holdings in shares of Alphabet by 129.5% in the fourth quarter. Pathway Financial Advisors LLC now owns 6,380 shares of the information services provider’s stock valued at $891,000 after purchasing an additional 3,600 shares in the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 0.8% in the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Alphabet by 1.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 68,373 shares of the information services provider’s stock valued at $9,551,000 after purchasing an additional 1,146 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL opened at $171.95 on Monday. The business’s 50-day moving average is $147.85 and its two-hundred day moving average is $141.42. Alphabet Inc. has a 1 year low of $103.54 and a 1 year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Research analysts anticipate that Alphabet Inc. will post 6.82 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.47%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock worth $36,746,578 over the last quarter. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. Redburn Atlantic raised their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Sanford C. Bernstein raised their price target on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday. Truist Financial raised their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer raised their price target on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wolfe Research raised their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $187.82.

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.