BOCHK Asset Management Ltd Sells 2,128 Shares of Alphabet Inc. (NASDAQ:GOOG)

BOCHK Asset Management Ltd lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 48.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,222 shares of the information services provider's stock after selling 2,128 shares during the period. BOCHK Asset Management Ltd's holdings in Alphabet were worth $423,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock valued at $42,000 after purchasing an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC boosted its holdings in shares of Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider's stock valued at $57,000 after purchasing an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $76,000. Institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several research reports. Oppenheimer increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday. Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Wedbush restated an "outperform" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday. Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,630 shares of company stock valued at $22,258,133. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $205.60 on Friday. The firm has a market cap of $2.52 trillion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The firm's 50 day simple moving average is $189.70 and its 200-day simple moving average is $175.54. Alphabet Inc. has a one year low of $131.55 and a one year high of $207.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

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.

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