CloudAlpha Capital Management Limited Hong Kong Takes Position in Alphabet Inc. $GOOGL

CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 711,000 shares of the information services provider’s stock, valued at approximately $125,300,000. Alphabet makes up 6.5% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 2nd biggest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Mystic Asset Management Inc. lifted its position in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Alaethes Wealth LLC boosted its position in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares during the last quarter. Moment Partners LLC grew its holdings in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after buying an additional 504 shares in the last quarter. Finally, Welch Group LLC grew its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after buying an additional 2,467 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. Citizens Jmp lifted their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Sanford C. Bernstein raised their price target on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. CICC Research upped their price objective on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. New Street Research increased their price objective on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Finally, DA Davidson boosted their target price on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 222,396 shares of company stock valued at $54,151,037 in the last three months. 11.64% of the stock is owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $285.02 on Tuesday. The business’s 50 day simple moving average is $258.26 and its 200 day simple moving average is $210.16. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $293.95. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

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.