Taikang Asset Management Hong Kong Co Ltd Sells 36,008 Shares of Alphabet Inc. (NASDAQ:GOOG)

Taikang Asset Management Hong Kong Co Ltd reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,008 shares of the information services provider's stock after selling 36,008 shares during the quarter. Alphabet makes up 1.0% of Taikang Asset Management Hong Kong Co Ltd's portfolio, making the stock its 28th largest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Alphabet were worth $6,857,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after purchasing an additional 264,962 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Alphabet by 7.2% during the third quarter. Advisors Asset Management Inc. now owns 13,526 shares of the information services provider's stock worth $2,261,000 after buying an additional 909 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Alphabet by 1.2% in the third quarter. Penserra Capital Management LLC now owns 12,240 shares of the information services provider's stock valued at $2,046,000 after acquiring an additional 147 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Alphabet by 2.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 70,572 shares of the information services provider's stock worth $11,799,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in Alphabet by 62.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 157,622 shares of the information services provider's stock worth $26,351,000 after acquiring an additional 60,325 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

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Insider Activity

In related news, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company's stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 in the last 90 days. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Down 3.0 %

Shares of NASDAQ:GOOG traded down $5.18 during mid-day trading on Wednesday, reaching $167.61. The stock had a trading volume of 12,553,468 shares, compared to its average volume of 19,247,410. The firm has a market cap of $2.04 trillion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm has a 50 day simple moving average of $183.56 and a two-hundred day simple moving average of $178.44. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $148.20 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GOOG shares. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark restated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Scotiabank raised their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $209.13.

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.