SOL Capital Management CO Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

SOL Capital Management CO decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,603 shares of the information services provider’s stock after selling 187 shares during the quarter. SOL Capital Management CO’s holdings in Alphabet were worth $1,621,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GOOGL. Bornite Capital Management LP purchased a new position in Alphabet during the first quarter valued at $16,688,000. Markel Corp increased its holdings in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank increased its holdings in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management increased its holdings in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $154.86 on Tuesday. The stock’s 50-day simple moving average is $145.55 and its 200-day simple moving average is $140.02. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The company has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the business earned $1.05 earnings per share. As a group, analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, 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 sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock worth $36,033,907. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOGL. JMP Securities reissued a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays cut their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Finally, Redburn Atlantic lifted their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $155.61.

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.