Alphabet Inc. (NASDAQ:GOOG) is TB Alternative Assets Ltd.’s 9th Largest Position

TB Alternative Assets Ltd. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,000 shares of the information services provider’s stock after selling 1,800 shares during the period. Alphabet makes up 3.0% of TB Alternative Assets Ltd.’s portfolio, making the stock its 9th biggest position. TB Alternative Assets Ltd.’s holdings in Alphabet were worth $12,029,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Alphabet by 17.4% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,035 shares of the information services provider’s stock worth $3,947,000 after acquiring an additional 3,714 shares during the last quarter. First Bancorp Inc ME increased its stake in shares of Alphabet by 1.4% in the first quarter. First Bancorp Inc ME now owns 5,743 shares of the information services provider’s stock worth $874,000 after acquiring an additional 80 shares during the last quarter. Sarasin & Partners LLP increased its stake in shares of Alphabet by 5.7% in the first quarter. Sarasin & Partners LLP now owns 126,713 shares of the information services provider’s stock worth $19,293,000 after acquiring an additional 6,784 shares during the last quarter. DLK Investment Management LLC increased its stake in shares of Alphabet by 1.3% in the first quarter. DLK Investment Management LLC now owns 66,616 shares of the information services provider’s stock worth $10,143,000 after acquiring an additional 859 shares during the last quarter. Finally, Priebe Wealth Holdings LLC increased its position in Alphabet by 1.7% during the first quarter. Priebe Wealth Holdings LLC now owns 4,603 shares of the information services provider’s stock worth $701,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Stock Performance

GOOG stock traded down $0.21 during mid-day trading on Wednesday, reaching $185.37. 13,348,003 shares of the stock traded hands, compared to its average volume of 21,367,201. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $185.93. The business has a 50-day moving average of $172.69 and a two-hundred day moving average of $154.76. The firm has a market capitalization of $2.29 trillion, a PE ratio of 28.45, a P/E/G ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the prior year, the company earned $1.17 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,374 shares of company stock worth $24,548,073. Company insiders own 12.99% of the company’s stock.

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.