Krane Funds Advisors LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Krane Funds Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,162 shares of the information services provider's stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Bennett Selby Investments LP increased its holdings in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after purchasing an additional 52 shares during the period. Macroview Investment Management LLC grew its position in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after buying an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its stake in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock valued at $1,864,000 after acquiring an additional 53 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after acquiring an additional 53 shares during the period. Finally, Addison Advisors LLC grew its holdings in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

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Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,497 shares of company stock valued at $20,837,150. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Wedbush set a $190.00 target price on shares of Alphabet and gave the company an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Bank of America reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Finally, Westpark Capital upgraded Alphabet to a "strong-buy" rating in a research report on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.72.

Alphabet Stock Down 1.7 %

Shares of NASDAQ:GOOGL traded down $2.76 during mid-day trading on Tuesday, reaching $156.31. 27,453,571 shares of the stock were exchanged, compared to its average volume of 28,219,399. The company has a market cap of $1.91 trillion, a P/E ratio of 19.42, a P/E/G ratio of 1.34 and a beta of 1.03. The stock's 50 day simple moving average is $167.87 and its 200-day simple moving average is $176.28. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is 9.94%.

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.