Parkside Investments LLC Sells 16,645 Shares of Alphabet Inc. (NASDAQ:GOOG)

Parkside Investments LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 15.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,715 shares of the information services provider’s stock after selling 16,645 shares during the period. Alphabet comprises about 2.1% of Parkside Investments LLC’s holdings, making the stock its 10th largest position. Parkside Investments LLC’s holdings in Alphabet were worth $13,355,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Veracity Capital LLC raised its stake in shares of Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares during the period. Independence Bank of Kentucky raised its stake in shares of Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the period. Park Avenue Securities LLC raised its stake in shares of Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after purchasing an additional 11,646 shares during the period. Strategic Blueprint LLC raised its stake in shares of Alphabet by 36.7% in the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after purchasing an additional 4,044 shares during the period. Finally, Investment Partners LTD. raised its stake in shares of Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after purchasing an additional 410 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was 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 directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,458 shares of company stock valued at $26,375,053. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOG. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $165.67.

Alphabet Price Performance

NASDAQ:GOOG traded up $4.79 during trading hours on Tuesday, reaching $185.58. 18,886,811 shares of the company were exchanged, compared to its average volume of 21,433,221. The business has a 50 day moving average of $172.10 and a 200 day moving average of $154.41. The company has a market capitalization of $2.29 trillion, a P/E ratio of 28.13, a P/E/G ratio of 1.35 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $185.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. Research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Alphabet 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.