E Fund Management Co. Ltd. Has $4.05 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

E Fund Management Co. Ltd. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,741 shares of the information services provider’s stock after selling 6,311 shares during the period. E Fund Management Co. Ltd.’s holdings in Alphabet were worth $4,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet during the third quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the fourth quarter valued at $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet in the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet during the 3rd quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.1 %

Shares of GOOG stock traded down $1.82 during mid-day trading on Wednesday, reaching $171.16. 13,649,296 shares of the company’s stock traded hands, compared to its average volume of 22,634,053. Alphabet Inc. has a 12 month low of $107.72 and a 12 month high of $176.42. The company has a market cap of $2.12 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.26 and a beta of 1.02. The company’s 50-day moving average price is $152.74 and its 200-day moving average price is $144.21. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (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 during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the sale, the chief executive officer now owns 2,355,191 shares in the company, valued at approximately $336,980,728.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares in the company, valued at $336,980,728.28. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock worth $37,091,240 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GOOG has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer boosted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Company 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.