Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by TenCore Partners LP

TenCore Partners LP lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,841 shares of the information services provider's stock after selling 8,840 shares during the quarter. Alphabet makes up approximately 13.0% of TenCore Partners LP's holdings, making the stock its 3rd biggest holding. TenCore Partners LP's holdings in Alphabet were worth $26,283,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp grew its holdings in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $49,000. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL traded down $2.56 during trading hours on Tuesday, hitting $163.98. 46,504,097 shares of the company were exchanged, compared to its average volume of 29,183,710. 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 has a market capitalization of $1.99 trillion, a PE ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.01. The firm has a fifty day simple moving average of $158.20 and a 200-day simple moving average of $175.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter last year, the company posted $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Citigroup upped their price objective on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Mizuho lowered their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC restated a "buy" rating and issued a $178.00 price target 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 given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Insider Activity

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. The trade was a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,744 shares of company stock worth $20,968,366 over the last 90 days. 11.64% of the stock is owned by company insiders.

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.