Taika Capital LP Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Taika Capital LP boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.8% in the third quarter, HoldingsChannel reports. The firm owned 59,360 shares of the information services provider’s stock after purchasing an additional 3,769 shares during the quarter. Alphabet accounts for about 7.4% of Taika Capital LP’s holdings, making the stock its largest holding. Taika Capital LP’s holdings in Alphabet were worth $9,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Schear Investment Advisers LLC boosted its stake in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the period. Trinity Financial Advisors LLC increased its position in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc boosted its position in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. This trade represents a 27.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock valued at $34,413,006 over the last quarter. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOGL. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Evercore ISI boosted their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Trading Down 1.1 %

NASDAQ GOOGL opened at $189.82 on Friday. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $195.61. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.32 trillion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The business’s 50-day moving average price is $171.63 and its two-hundred day moving average price is $170.67.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business posted $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.