China Universal Asset Management Co. Ltd. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

China Universal Asset Management Co. Ltd. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 36.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,007 shares of the information services provider’s stock after buying an additional 16,416 shares during the quarter. Alphabet makes up about 1.1% of China Universal Asset Management Co. Ltd.’s holdings, making the stock its 18th largest position. China Universal Asset Management Co. Ltd.’s holdings in Alphabet were worth $11,809,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOOG. Weiss Asset Management LP purchased a new position in shares of Alphabet during the third quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the third quarter worth about $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $207.71 on Wednesday. The business’s 50 day simple moving average is $191.14 and its 200-day simple moving average is $175.71. The firm has a market capitalization of $2.54 trillion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. As a group, equities analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. Barclays boosted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research boosted 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. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,029 shares of company stock valued at $18,462,883. 12.99% of the stock is owned by corporate insiders.

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.