E Fund Management Hong Kong Co. Ltd. Sells 612 Shares of Alphabet Inc. (NASDAQ:GOOG)

E Fund Management Hong Kong Co. Ltd. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 39.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 924 shares of the information services provider’s stock after selling 612 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Alphabet were worth $176,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Bryant Woods Investment Advisors LLC purchased a new position in Alphabet during the 4th quarter valued at $249,000. TI Trust Inc. boosted its stake in shares of Alphabet by 1.4% during the fourth quarter. TI Trust Inc. now owns 4,305 shares of the information services provider’s stock valued at $820,000 after purchasing an additional 60 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Alphabet by 5.2% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 100,229 shares of the information services provider’s stock worth $19,088,000 after purchasing an additional 4,991 shares during the last quarter. OLIO Financial Planning purchased a new position in Alphabet in the 4th quarter worth about $562,000. Finally, Requisite Capital Management LLC purchased a new position in Alphabet in the 4th quarter worth about $927,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.13.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,887 shares of company stock valued at $22,470,464. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $197.18 on Thursday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The company has a market cap of $2.41 trillion, a PE ratio of 26.15, a P/E/G ratio of 1.27 and a beta of 0.99. 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 business has a 50-day simple moving average of $188.64 and a two-hundred day simple moving average of $175.20.

Alphabet (NASDAQ:GOOG) last released 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the business earned $1.55 EPS. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal 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.