OVERSEA CHINESE BANKING Corp Ltd Sells 16,604 Shares of Alphabet Inc. (NASDAQ:GOOG)

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.1% in the 3rd quarter, Holdings Channel reports. The firm owned 93,253 shares of the information services provider’s stock after selling 16,604 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Alphabet were worth $15,584,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOG. China Universal Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 360.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after acquiring an additional 15,848 shares during the period. Quent Capital LLC lifted its stake in shares of Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after purchasing an additional 1,798 shares during the period. Empowered Funds LLC lifted its stake in shares of Alphabet by 19.0% in the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after purchasing an additional 13,756 shares during the period. Motley Fool Asset Management LLC boosted its holdings in shares of Alphabet by 5.2% in the first quarter. Motley Fool Asset Management LLC now owns 485,420 shares of the information services provider’s stock worth $73,910,000 after buying an additional 23,833 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. grew its position in Alphabet by 2.0% during the first quarter. Baltimore Washington Financial Advisors Inc. now owns 205,197 shares of the information services provider’s stock valued at $31,243,000 after buying an additional 3,964 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,752 shares of company stock worth $40,156,829. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOG shares. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Canaccord Genuity Group lifted their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Citigroup boosted their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $183.32 on Wednesday. The firm’s fifty day moving average is $165.25 and its two-hundred day moving average is $171.44. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a market cap of $2.24 trillion, a P/E ratio of 24.31, a P/E/G ratio of 1.26 and a beta of 1.04. 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) last posted 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 company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.