Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Tairen Capital Ltd

Tairen Capital Ltd lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 96.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,400 shares of the information services provider's stock after selling 2,069,941 shares during the period. Alphabet comprises approximately 2.3% of Tairen Capital Ltd's investment portfolio, making the stock its 13th biggest position. Tairen Capital Ltd's holdings in Alphabet were worth $15,502,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Texas Bank & Trust Co acquired a new position in shares of Alphabet in the fourth quarter worth about $4,407,000. Tolleson Wealth Management Inc. acquired a new position in shares of Alphabet in the fourth quarter worth about $460,000. Trace Wealth Advisors LLC acquired a new position in shares of Alphabet in the fourth quarter worth about $1,356,000. Triavera Capital LLC acquired a new position in shares of Alphabet in the fourth quarter worth about $54,000. Finally, True Wealth Design LLC raised its position in shares of Alphabet by 28.5% in the fourth quarter. True Wealth Design LLC now owns 293 shares of the information services provider's stock worth $56,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock valued at $30,153,353 in the last 90 days. Company insiders own 12.99% of the company's stock.

Alphabet Stock Up 1.2%

GOOG stock opened at $167.43 on Friday. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 20.80, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm has a 50-day moving average of $160.19 and a two-hundred day moving average of $176.75.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost 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 dividend yield of 0.50%. Alphabet's dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GOOG shares. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Scotiabank decreased their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $203.94.

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.

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