Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Sollinda Capital Management LLC

Sollinda Capital Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 43.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,459 shares of the information services provider’s stock after selling 1,139 shares during the period. Sollinda Capital Management LLC’s holdings in Alphabet were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cooper Financial Group raised its holdings in shares of Alphabet by 3.4% in the third quarter. Cooper Financial Group now owns 46,144 shares of the information services provider’s stock worth $6,038,000 after buying an additional 1,534 shares during the last quarter. Scharf Investments LLC raised its holdings in shares of Alphabet by 307.7% during the third quarter. Scharf Investments LLC now owns 40,717 shares of the information services provider’s stock worth $5,328,000 after purchasing an additional 30,729 shares during the last quarter. Johnson Bixby & Associates LLC purchased a new position in shares of Alphabet during the third quarter worth $213,000. OneAscent Financial Services LLC raised its holdings in shares of Alphabet by 54.9% during the third quarter. OneAscent Financial Services LLC now owns 6,636 shares of the information services provider’s stock worth $868,000 after purchasing an additional 2,351 shares during the last quarter. Finally, Strategic Advisors LLC raised its holdings in shares of Alphabet by 1.6% during the third quarter. Strategic Advisors LLC now owns 123,196 shares of the information services provider’s stock worth $16,121,000 after purchasing an additional 1,995 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada lifted their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Citigroup lifted their price objective on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC lifted their price objective on shares of Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein lifted their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Stock Performance

NASDAQ:GOOGL traded up $15.95 during trading hours on Friday, reaching $171.95. 64,665,299 shares of the company’s stock were exchanged, compared to its average volume of 25,802,202. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 1.58 and a beta of 1.05. The company has a 50-day moving average of $147.85 and a 200 day moving average of $141.42. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $103.54 and a 1-year high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter in the prior year, the firm earned $1.05 EPS. Research analysts anticipate that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.

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.