Fullerton Fund Management Co Ltd. Raises Stake in Alphabet Inc. $GOOG

Fullerton Fund Management Co Ltd. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 369,677 shares of the information services provider’s stock after buying an additional 45,498 shares during the period. Alphabet accounts for approximately 2.7% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 15th largest holding. Fullerton Fund Management Co Ltd.’s holdings in Alphabet were worth $65,577,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOOG. IFS Advisors LLC boosted its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC lifted its position in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the period. Fairman Group LLC boosted its stake in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Finally, University of Illinois Foundation purchased a new stake in Alphabet in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. UBS Group reissued a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Pivotal Research reaffirmed a “buy” rating and set a $400.00 price target (up previously from $350.00) on shares of Alphabet in a research note on Friday, December 5th. TD Cowen boosted their price objective on shares of Alphabet from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $313.04.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total value of $10,383,750.00. Following the completion of the sale, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total transaction of $302,418.00. Following the sale, the chief accounting officer owned 11,740 shares in the company, valued at $3,721,580. This represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 228,906 shares of company stock worth $62,127,158 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $310.52 on Friday. The firm has a fifty day moving average of $283.75 and a 200-day moving average of $229.94. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.75 trillion, a P/E ratio of 30.62, a PEG ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the company earned $2.12 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

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.