Tairen Capital Ltd Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Tairen Capital Ltd decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 95.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,800 shares of the information services provider’s stock after selling 2,397,588 shares during the period. Alphabet makes up 2.8% of Tairen Capital Ltd’s portfolio, making the stock its 10th largest holding. Tairen Capital Ltd’s holdings in Alphabet were worth $19,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Bennett Selby Investments LP raised its position in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after buying an additional 52 shares in the last quarter. Macroview Investment Management LLC grew its stake in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after purchasing an additional 52 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after purchasing an additional 53 shares during the last quarter. Addison Advisors LLC grew its stake in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after purchasing an additional 53 shares during the last quarter. Finally, Burt Wealth Advisors grew its stake in shares of Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 1.4%

Shares of Alphabet stock opened at $166.19 on Friday. The firm has a market capitalization of $2.02 trillion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company’s fifty day moving average price is $158.21 and its two-hundred day moving average price is $175.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,824 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. This represents a 15.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,690 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock worth $30,153,353 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOGL shares. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Susquehanna lowered their price objective on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. KeyCorp boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, UBS Group set a $195.00 target price on shares of Alphabet in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $199.75.

Alphabet 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.