Nan Fung Trinity HK Ltd. Has $20.56 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 27th, 2023

Nan Fung Trinity HK Ltd. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,020 shares of the information services provider’s stock after selling 55,900 shares during the period. Alphabet accounts for approximately 5.9% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 8th biggest holding. Nan Fung Trinity HK Ltd.’s holdings in Alphabet were worth $20,559,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD grew its position in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Alphabet by 1,896.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after acquiring an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America increased their target price on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. UBS Group upped their price target on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Roth Mkm lifted their price objective on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Truist Financial upped their target price on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.03.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of the sale, the chief accounting officer now owns 25,282 shares in the company, valued at $2,524,913.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the transaction, the chief accounting officer now owns 25,282 shares in the company, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,539 shares of company stock worth $10,209,164. Corporate insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $103.71 on Thursday. The stock’s 50 day moving average price is $99.70 and its two-hundred day moving average price is $96.49. The stock has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $122.85.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the business earned $1.23 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 5.08 earnings per share for the current year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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