Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,937 shares of the information services provider’s stock after selling 535 shares during the period. Alphabet makes up 1.6% of Parsons Capital Management Inc. RI’s holdings, making the stock its 8th biggest position. Parsons Capital Management Inc. RI’s holdings in Alphabet were worth $23,687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. RWQ Financial Management Services Inc. grew its position in shares of Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Ballast Advisors LLC boosted its stake in Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares during the last quarter. Quantum Financial Advisors LLC grew its holdings in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares in the last quarter. Colton Groome Financial Advisors LLC grew its holdings in Alphabet by 3.8% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after buying an additional 100 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after acquiring an additional 104,366 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,439 shares of company stock worth $36,746,578. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Up 10.2 %

Shares of Alphabet stock traded up $15.95 during trading on Friday, hitting $171.95. 64,665,299 shares of the stock were exchanged, compared to its average volume of 25,802,202. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. The firm’s 50-day moving average price is $147.85 and its 200 day moving average price is $141.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 12-month low of $103.54 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same quarter in the prior year, the business posted $1.05 EPS. As a group, analysts forecast that Alphabet Inc. will post 6.82 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOGL shares. Roth Mkm boosted their price target on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC increased their price objective on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $187.82.

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.