Sollinda Capital Management LLC Sells 1,139 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sollinda Capital Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 43.8% in the 1st quarter, Holdings Channel reports. The fund owned 1,459 shares of the information services provider’s stock after selling 1,139 shares during the quarter. Sollinda Capital Management LLC’s holdings in Alphabet were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. RWQ Financial Management Services Inc. lifted its holdings in shares of Alphabet by 8.2% during 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 acquiring an additional 4,664 shares during the period. Ballast Advisors LLC grew its position in shares of Alphabet by 9.6% during the 3rd 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 period. Quantum Financial Advisors LLC increased its stake in shares of 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 acquiring an additional 564 shares during the last quarter. Colton Groome Financial Advisors LLC increased its stake in shares of 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 acquiring an additional 100 shares during 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 valued at $577,908,000 after acquiring an additional 104,366 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $15.95 during trading hours on Friday, hitting $171.95. 64,665,299 shares of the stock were exchanged, compared to its average volume of 25,802,202. The company has a market cap of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company’s fifty day simple moving average is $147.85 and its two-hundred day simple moving average is $141.42. Alphabet Inc. has a 1-year low of $103.54 and a 1-year high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm 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 last year, the firm earned $1.05 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 over the last three months. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Wells Fargo & Company boosted their price target on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday. Truist Financial boosted their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group boosted their price target on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup boosted their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Five equities 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 data from MarketBeat, Alphabet currently has an average 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.