Tairen Capital Ltd Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Tairen Capital Ltd acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 267,735 shares of the information services provider’s stock, valued at approximately $48,768,000. Alphabet makes up 1.8% of Tairen Capital Ltd’s holdings, making the stock its 9th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Wulff Hansen & CO. raised its position in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares during the period. PineStone Asset Management Inc. lifted its stake in shares of Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Alphabet by 91.0% during the 2nd quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock worth $1,450,599,000 after purchasing an additional 3,777,527 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Evercore ISI reduced their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Finally, Bank of America upped their price target on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Alphabet Stock Up 0.7 %

GOOGL opened at $167.06 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.62, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a 50 day simple moving average of $162.06 and a 200-day simple moving average of $167.28.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 last year, the company earned $1.44 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced 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 of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,592 shares of company stock valued at $35,922,911. Corporate insiders own 11.55% of the company’s stock.

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.