Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Taika Capital LP

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

Other large investors also recently modified their holdings of the company. Lantz Financial LLC boosted its position in Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after buying an additional 452 shares in the last quarter. Strong Tower Advisory Services boosted its holdings in shares of Alphabet by 8.4% in the 2nd quarter. Strong Tower Advisory Services now owns 45,695 shares of the information services provider’s stock worth $8,323,000 after acquiring an additional 3,523 shares in the last quarter. PCG Wealth Advisors LLC grew its position in Alphabet by 3.7% during the 2nd quarter. PCG Wealth Advisors LLC now owns 3,575 shares of the information services provider’s stock worth $651,000 after acquiring an additional 129 shares during the last quarter. Alpha Cubed Investments LLC increased its holdings in Alphabet by 0.4% during the 2nd quarter. Alpha Cubed Investments LLC now owns 544,086 shares of the information services provider’s stock valued at $99,105,000 after purchasing an additional 2,008 shares in the last quarter. Finally, Cooper Financial Group raised its position in Alphabet by 8.6% in the 2nd quarter. Cooper Financial Group now owns 57,673 shares of the information services provider’s stock valued at $10,505,000 after purchasing an additional 4,554 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s 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 transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,623 shares of company stock worth $34,413,006. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. Robert W. Baird restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm upped their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research report 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Alphabet Trading Down 1.1 %

NASDAQ GOOGL opened at $189.82 on Friday. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $195.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50 day moving average price is $171.63 and its two-hundred day moving average price is $170.67. The stock has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

About Alphabet

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.