Turiya Advisors Asia Ltd Invests $109.84 Million in Alphabet Inc. (NASDAQ:GOOGL)

Turiya Advisors Asia Ltd acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 603,000 shares of the information services provider’s stock, valued at approximately $109,836,000. Alphabet makes up approximately 47.6% of Turiya Advisors Asia Ltd’s portfolio, making the stock its largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the second 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. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at approximately $36,000. Finally, Denver PWM LLC bought a new position in shares of Alphabet in the 2nd quarter valued at $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold 193,725 shares of company stock valued at $31,933,031 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Morgan Stanley dropped their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada boosted their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research started coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Loop Capital restated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Stock Performance

NASDAQ GOOGL opened at $166.99 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a fifty day moving average of $162.22 and a 200-day moving average of $167.02. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 12.27%.

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.