Sollinda Capital Management LLC Purchases Shares of 2,598 Alphabet Inc. (NASDAQ:GOOGL)

Sollinda Capital Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,598 shares of the information services provider’s stock, valued at approximately $363,000.

Other large investors also recently modified their holdings of the company. WealthPlan Investment Management LLC raised its stake in shares of Alphabet by 17.0% during the third quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider’s stock worth $1,818,000 after buying an additional 2,017 shares during the last quarter. Wealth Advisors of Iowa LLC increased its stake in Alphabet by 148.6% in the third quarter. Wealth Advisors of Iowa LLC now owns 3,060 shares of the information services provider’s stock valued at $400,000 after purchasing an additional 1,829 shares in the last quarter. Patron Partners LLC increased its stake in Alphabet by 1.9% in the third quarter. Patron Partners LLC now owns 10,725 shares of the information services provider’s stock valued at $1,403,000 after purchasing an additional 204 shares in the last quarter. Van Hulzen Asset Management LLC increased its stake in Alphabet by 16.9% in the third quarter. Van Hulzen Asset Management LLC now owns 329,588 shares of the information services provider’s stock valued at $43,130,000 after purchasing an additional 47,557 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its stake in Alphabet by 0.6% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 91,470 shares of the information services provider’s stock valued at $11,970,000 after purchasing an additional 563 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $175.01 on Tuesday. The stock’s fifty day moving average is $166.20 and its 200 day moving average is $149.98. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $178.77. The firm has a market capitalization of $2.16 trillion, a PE ratio of 26.84, a PEG ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the firm posted $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, June 10th.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Barclays increased their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Wedbush increased their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Loop Capital increased their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Roth Mkm increased their price objective on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $215.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned 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 $191.57.

Read Our Latest Research Report on Alphabet

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,458 shares of company stock valued at $25,538,973. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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