Fosun International Ltd Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Fosun International Ltd trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,343 shares of the information services provider’s stock after selling 14 shares during the period. Fosun International Ltd’s holdings in Alphabet were worth $5,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tandem Investment Advisors Inc. increased its stake in Alphabet by 2.9% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 140 shares of the information services provider’s stock worth $351,000 after purchasing an additional 4 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in Alphabet by 0.3% during the 2nd quarter. Resonant Capital Advisors LLC now owns 1,385 shares of the information services provider’s stock valued at $3,471,000 after purchasing an additional 4 shares during the last quarter. Well Done LLC lifted its holdings in shares of Alphabet by 2.2% during the second quarter. Well Done LLC now owns 188 shares of the information services provider’s stock worth $471,000 after buying an additional 4 shares in the last quarter. Mattern Wealth Management LLC lifted its holdings in shares of Alphabet by 3.9% during the second quarter. Mattern Wealth Management LLC now owns 106 shares of the information services provider’s stock worth $280,000 after buying an additional 4 shares in the last quarter. Finally, Wade Financial Advisory Inc raised its stake in Alphabet by 1.5% in the second quarter. Wade Financial Advisory Inc now owns 273 shares of the information services provider’s stock valued at $684,000 after purchasing an additional 4 shares in the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

In related news, Director Lawrence Page sold 13,889 shares of the business’s stock in a transaction that occurred on Thursday, September 23rd. The shares were sold at an average price of $2,839.18, for a total transaction of $39,433,371.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $2,863.38, for a total transaction of $8,590,140.00. The disclosure for this sale can be found here. Insiders sold a total of 489,766 shares of company stock worth $406,390,466 over the last quarter. Insiders own 12.99% of the company’s stock.

NASDAQ:GOOG traded down $102.47 during mid-day trading on Tuesday, hitting $2,727.55. The stock had a trading volume of 53,064 shares, compared to its average volume of 1,310,535. The stock has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 1.85 and a beta of 1.00. The company has a 50 day simple moving average of $2,801.92 and a 200-day simple moving average of $2,516.70. Alphabet Inc. has a 52 week low of $1,436.00 and a 52 week high of $2,936.41. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The company had revenue of $61.88 billion for the quarter, compared to the consensus estimate of $56.08 billion. During the same period in the previous year, the firm earned $10.13 EPS. Alphabet’s revenue was up 61.6% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 101.86 earnings per share for the current year.

Several analysts have recently weighed in on GOOG shares. Mizuho boosted their price target on Alphabet from $2,800.00 to $3,000.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. KGI Securities initiated coverage on Alphabet in a research note on Wednesday, June 2nd. They issued an “outperform” rating for the company. Jefferies Financial Group upped their price objective on Alphabet from $2,950.00 to $3,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Truist increased their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Finally, Wolfe Research raised their price target on Alphabet from $2,900.00 to $3,400.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $3,087.17.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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