CloudAlpha Capital Management Limited Hong Kong Has $12.01 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

CloudAlpha Capital Management Limited Hong Kong lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 92.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,000 shares of the information services provider’s stock after selling 1,099,400 shares during the period. Alphabet comprises 1.1% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 16th biggest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Alphabet were worth $12,013,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. RWQ Financial Management Services Inc. grew its holdings in shares of Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the last quarter. Ballast Advisors LLC grew its holdings in shares of Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after purchasing an additional 1,385 shares during the last quarter. Quantum Financial Advisors LLC grew its holdings in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares during the last quarter. Finally, NatWest Group plc grew its holdings in shares of Alphabet by 239.0% during the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after purchasing an additional 71,057 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating and set a $185.00 price target (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. UBS Group lifted their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Citigroup reaffirmed a “buy” rating and issued a $168.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company cut their price objective on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $156.00 on Friday. The stock’s 50 day moving average is $147.22 and its 200-day moving average is $141.16. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% 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.