Symphony Financial Ltd. Co. Sells 8,155 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Symphony Financial Ltd. Co. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,681 shares of the information services provider’s stock after selling 8,155 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Alphabet were worth $3,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. RWQ Financial Management Services Inc. boosted 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 acquiring an additional 4,664 shares during the period. Picton Mahoney Asset Management raised its stake in Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares during the last quarter. Robbins Farley boosted its holdings in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC acquired a new stake in Alphabet in the 4th quarter worth $787,000. Finally, Quantum Financial Advisors LLC increased its holdings in shares of Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $185.24 on Wednesday. The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 1.37 and a beta of 1.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $186.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $173.38 and its 200 day simple moving average is $154.80.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Barclays increased their target price on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective (down from $182.00) on shares of Alphabet in a research report on Friday, June 28th. Wolfe Research raised their target price on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Susquehanna boosted their price target on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday, April 29th. Finally, Loop Capital raised their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock worth $21,143,403 in the last three months. Insiders own 11.55% of the company’s stock.

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.