Alphabet Inc. (NASDAQ:GOOGL) is Taika Capital LP’s 3rd Largest Position

Taika Capital LP cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 45.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,646 shares of the information services provider’s stock after selling 26,714 shares during the quarter. Alphabet accounts for approximately 4.7% of Taika Capital LP’s investment portfolio, making the stock its 3rd largest position. Taika Capital LP’s holdings in Alphabet were worth $6,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the fourth quarter valued at $30,000. LMR Partners LLP purchased a new position in shares of Alphabet in the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp grew its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on GOOGL. Wells Fargo & Company lifted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $163.99 on Friday. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The firm has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $182.57 and its 200-day simple moving average is $176.38.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is 9.94%.

Alphabet Company 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.