Alphabet Inc (NASDAQ:GOOG) Position Increased by Fosun International Ltd

Fosun International Ltd lifted its stake in Alphabet Inc (NASDAQ:GOOG) by 25.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,129 shares of the information services provider’s stock after purchasing an additional 637 shares during the quarter. Fosun International Ltd’s holdings in Alphabet were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Braun Bostich & Associates Inc. boosted its holdings in shares of Alphabet by 9.6% during the first quarter. Braun Bostich & Associates Inc. now owns 114 shares of the information services provider’s stock worth $126,000 after purchasing an additional 10 shares during the period. Shell Asset Management Co. boosted its holdings in shares of Alphabet by 13.6% during the first quarter. Shell Asset Management Co. now owns 35,057 shares of the information services provider’s stock worth $40,765,000 after purchasing an additional 4,192 shares during the period. Bedel Financial Consulting Inc. boosted its holdings in shares of Alphabet by 5.1% during the first quarter. Bedel Financial Consulting Inc. now owns 475 shares of the information services provider’s stock worth $552,000 after purchasing an additional 23 shares during the period. National Asset Management Inc. boosted its holdings in shares of Alphabet by 29.6% during the first quarter. National Asset Management Inc. now owns 5,503 shares of the information services provider’s stock worth $6,399,000 after purchasing an additional 1,258 shares during the period. Finally, Staley Capital Advisers Inc. boosted its holdings in shares of Alphabet by 2.3% during the first quarter. Staley Capital Advisers Inc. now owns 35,698 shares of the information services provider’s stock worth $41,510,000 after purchasing an additional 797 shares during the period. 33.61% of the stock is owned by institutional investors and hedge funds.

In related news, Director Ann Mather sold 30 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $1,328.50, for a total value of $39,855.00. Following the sale, the director now owns 1,119 shares in the company, valued at approximately $1,486,591.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 45 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $1,151.24, for a total value of $51,805.80. Following the completion of the sale, the director now owns 32 shares in the company, valued at approximately $36,839.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 325 shares of company stock worth $409,753. Company insiders own 12.99% of the company’s stock.

Shares of Alphabet stock traded up $0.95 on Friday, reaching $1,403.75. 615,944 shares of the company were exchanged, compared to its average volume of 1,806,928. Alphabet Inc has a one year low of $1,013.54 and a one year high of $1,532.11. The company has a market capitalization of $960.25 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 2.11 and a beta of 1.06. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $1,279.53 and a 200 day moving average of $1,331.21.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The company had revenue of $41.16 billion for the quarter, compared to the consensus estimate of $40.29 billion. During the same quarter in the prior year, the company earned $9.50 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts predict that Alphabet Inc will post 41.47 earnings per share for the current year.

Several equities analysts recently weighed in on GOOG shares. ValuEngine raised shares of Alphabet from a “sell” rating to a “hold” rating in a research report on Thursday, March 5th. BMO Capital Markets raised shares of Alphabet from a “market perform” rating to an “outperform” rating in a research report on Monday, March 30th. Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. KeyCorp raised their price objective on shares of Alphabet from $1,546.00 to $1,769.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,580.52.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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