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

Taika Capital LP lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,360 shares of the information services provider's stock after acquiring an additional 3,769 shares during the quarter. Alphabet makes up approximately 7.4% of Taika Capital LP's investment portfolio, making the stock its largest position. Taika Capital LP's holdings in Alphabet were worth $9,845,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Temasek Holdings Private Ltd increased its stake in shares of Alphabet by 6.2% during the 3rd quarter. Temasek Holdings Private Ltd now owns 4,715,384 shares of the information services provider's stock worth $782,046,000 after purchasing an additional 273,500 shares during the last quarter. State Street Corp grew its holdings in Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Stevens Capital Management LP increased its position in Alphabet by 287.7% during the third quarter. Stevens Capital Management LP now owns 104,085 shares of the information services provider's stock worth $17,262,000 after buying an additional 77,235 shares during the last quarter. Sassicaia Capital Advisers LLC bought a new stake in Alphabet in the third quarter valued at approximately $315,000. Finally, Quantinno Capital Management LP lifted its position in shares of Alphabet by 22.8% in the third quarter. Quantinno Capital Management LP now owns 639,077 shares of the information services provider's stock valued at $105,991,000 after buying an additional 118,857 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Loop Capital boosted their target price on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. JMP Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Truist Financial lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $206.08.

Check Out Our Latest Report on Alphabet

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,623 shares of company stock worth $34,413,006 in the last ninety days. Company insiders own 11.55% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL traded down $2.14 on Friday, hitting $189.82. The company had a trading volume of 25,143,495 shares, compared to its average volume of 27,397,740. Alphabet Inc. has a 52 week low of $129.68 and a 52 week 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 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. The firm has a 50 day moving average of $171.63 and a two-hundred day moving average of $170.67.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

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.

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