Two Seas Capital LP Sells 15,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Two Seas Capital LP trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 37.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the information services provider’s stock after selling 15,000 shares during the period. Alphabet makes up approximately 0.4% of Two Seas Capital LP’s holdings, making the stock its 22nd biggest holding. Two Seas Capital LP’s holdings in Alphabet were worth $4,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $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 worth $46,000 after buying an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $49,000. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,744 shares of company stock valued at $20,968,366. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Piper Sandler raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Truist Financial lowered their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Westpark Capital restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, May 8th. Finally, DA Davidson lowered their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $199.75.

Alphabet Trading Down 1.5%

Shares of GOOGL stock opened at $163.98 on Wednesday. The stock has a market cap of $1.99 trillion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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 stock has a 50 day simple moving average of $158.23 and a 200 day simple moving average of $174.93.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is presently 9.36%.

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.