Triavera Capital LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Triavera Capital LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 67,990 shares of the information services provider's stock, valued at approximately $12,871,000. Alphabet accounts for approximately 7.0% of Triavera Capital LLC's portfolio, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Alphabet by 518.8% during 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 buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at $39,000. PayPay Securities Corp increased its stake 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 buying an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC bought a new stake in Alphabet during the fourth quarter valued at about $49,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $166.19 on Friday. The stock's 50-day moving average price is $158.21 and its 200 day moving average price is $175.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for 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 earned $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. 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 yield of 0.51%. Alphabet's payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOGL. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Citigroup boosted their price target on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. KeyCorp boosted their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Tigress Financial upped their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,824 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock worth $30,153,353 over the last 90 days. 11.64% of the stock is owned by insiders.

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.

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