Symphony Financial Ltd. Co. Sells 384 Shares of Alphabet Inc. (NASDAQ:GOOG)

Symphony Financial Ltd. Co. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 1st quarter, Holdings Channel reports. The fund owned 27,073 shares of the information services provider’s stock after selling 384 shares during the quarter. Alphabet accounts for approximately 1.0% of Symphony Financial Ltd. Co.’s investment portfolio, making the stock its 28th biggest position. Symphony Financial Ltd. Co.’s holdings in Alphabet were worth $4,122,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GOOG. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $4,101,040,000. JPMorgan Chase & Co. lifted its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Alphabet in the fourth quarter valued at $11,600,970,000. Cerity Partners LLC lifted its stake in Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after acquiring an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after acquiring an additional 2,222,950 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Price Performance

Shares of GOOG traded down $3.44 during mid-day trading on Friday, reaching $183.42. The company had a trading volume of 23,032,362 shares, compared to its average volume of 17,822,788. The company’s 50 day simple moving average is $174.40 and its 200 day simple moving average is $155.68. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business 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 was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,284 shares of company stock worth $24,534,393. Corporate insiders own 12.99% 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.