Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by Turiya Advisors Asia Ltd

Turiya Advisors Asia Ltd lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 509,300 shares of the information services provider’s stock after selling 93,700 shares during the quarter. Alphabet comprises 55.3% of Turiya Advisors Asia Ltd’s portfolio, making the stock its largest holding. Turiya Advisors Asia Ltd’s holdings in Alphabet were worth $84,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP bought a new position in shares of Alphabet in the third quarter worth approximately $32,000. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new stake in Alphabet during the second quarter valued at approximately $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. JMP Securities increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,624 shares of company stock valued at $27,803,730 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.2 %

NASDAQ:GOOGL opened at $174.71 on Monday. 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 firm has a market cap of $2.14 trillion, a P/E ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $191.75. The firm has a 50-day simple moving average of $169.51 and a two-hundred day simple moving average of $170.20.

Alphabet (NASDAQ:GOOGL) last issued 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. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the business posted $1.55 EPS. Analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio 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.