Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Kodai Capital Management LP

Kodai Capital Management LP lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 34.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 782,885 shares of the information services provider’s stock after selling 419,833 shares during the quarter. Alphabet comprises about 2.8% of Kodai Capital Management LP’s investment portfolio, making the stock its 8th largest position. Kodai Capital Management LP’s holdings in Alphabet were worth $118,161,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the 1st quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC raised its stake in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.5 %

NASDAQ GOOGL opened at $170.76 on Friday. The firm has a market cap of $2.11 trillion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The stock’s 50 day simple moving average is $178.59 and its 200 day simple moving average is $161.14. 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 (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the company earned $1.44 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research analyst reports. Tigress Financial lifted their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Wells Fargo & Company lifted their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday. Jefferies Financial Group upped their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, TD Securities upped their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,126 shares of company stock worth $17,617,549. Insiders own 11.55% of the company’s stock.

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.