Whale Rock Capital Management LLC Sells 572,118 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Whale Rock Capital Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,398,303 shares of the information services provider's stock after selling 572,118 shares during the period. Alphabet comprises about 5.6% of Whale Rock Capital Management LLC's holdings, making the stock its 5th largest holding. Whale Rock Capital Management LLC's holdings in Alphabet were worth $397,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lantz Financial LLC increased its position in shares of Alphabet by 10.8% during 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 during the period. Strong Tower Advisory Services raised its position 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 purchasing an additional 3,523 shares during the last quarter. PCG Wealth Advisors LLC increased its position in shares of Alphabet by 3.7% during the second quarter. PCG Wealth Advisors LLC now owns 3,575 shares of the information services provider's stock valued at $651,000 after acquiring an additional 129 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in shares of Alphabet by 0.4% during the second 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 grew its stake in shares of Alphabet by 8.6% in the second quarter. Cooper Financial Group now owns 57,673 shares of the information services provider's stock worth $10,505,000 after acquiring an additional 4,554 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on GOOGL shares. Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Loop Capital lifted their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday. Finally, Phillip Securities raised Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.08.

View Our Latest Analysis on GOOGL

Alphabet Stock Performance

Shares of GOOGL traded down $2.14 during trading hours on Friday, reaching $189.82. 25,143,495 shares of the company traded hands, compared to its average volume of 27,397,740. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $171.63 and a 200-day moving average price of $170.67. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $195.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm earned $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a 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%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet 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 sale, the director now owns 23,324 shares of the company's stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company's stock, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,623 shares of company stock valued at $34,413,006 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

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.

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