Sollinda Capital Management LLC Has $295,000 Stake in Alphabet Inc. (NASDAQ:GOOGL)

Sollinda Capital Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,620 shares of the information services provider’s stock after purchasing an additional 161 shares during the quarter. Sollinda Capital Management LLC’s holdings in Alphabet were worth $295,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at about $15,441,917,000. Capital Research Global Investors boosted its stake in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. boosted its stake in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its position in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, PineStone Asset Management Inc. lifted its holdings in shares of Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after buying an additional 4,170,229 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley cut their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Price Performance

GOOGL opened at $154.69 on Friday. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50 day simple moving average is $168.12 and its 200-day simple moving average is $164.36. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm earned $1.44 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders have sold 179,367 shares of company stock valued at $30,016,931 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Company Profile

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.