China Universal Asset Management Co. Ltd. Has $21.72 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

China Universal Asset Management Co. Ltd. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,930 shares of the information services provider's stock after purchasing an additional 21,228 shares during the period. Alphabet makes up approximately 2.4% of China Universal Asset Management Co. Ltd.'s holdings, making the stock its 8th largest holding. China Universal Asset Management Co. Ltd.'s holdings in Alphabet were worth $21,715,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider's stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the period. Capital Research Global Investors increased its stake in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider's stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the period. Capital World Investors boosted its stake in shares of Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider's stock valued at $5,344,778,000 after purchasing an additional 597,756 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider's stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Wedbush reissued an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Citigroup raised their target price on Alphabet from $190.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Tigress Financial lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a research report on Thursday, September 26th. Finally, Evercore ISI raised their price target on Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares of the company's stock, valued at $362,126,319.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now directly owns 30,024 shares in the company, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company's stock, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 242,552 shares of company stock valued at $40,287,253. Company insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $2.40 during midday trading on Friday, hitting $178.35. 22,006,182 shares of the company's stock traded hands, compared to its average volume of 25,879,976. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. The firm has a fifty day moving average of $163.54 and a 200 day moving average of $169.67. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm earned $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

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.