Fosun International Ltd Has $3.13 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Fosun International Ltd lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 31.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,539 shares of the information services provider’s stock after selling 7,499 shares during the period. Alphabet accounts for approximately 1.0% of Fosun International Ltd’s holdings, making the stock its 6th biggest holding. Fosun International Ltd’s holdings in Alphabet were worth $3,131,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Alphabet in the fourth quarter worth $24,383,677,000. FMR LLC grew its position in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the period. Northern Trust Corp increased its stake in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after acquiring an additional 9,042,271 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,815,948.32. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $152.75 on Friday. 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 twelve month low of $140.53 and a twelve month high of $207.05. The business has a 50-day moving average price of $158.93 and a 200-day moving average price of $175.10. The firm has a market cap of $1.85 trillion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOGL shares. Wells Fargo & Company raised their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. KeyCorp raised their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Jefferies Financial Group dropped their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. lowered their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.75.

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.