Symphony Financial Ltd. Co. Grows Position in Alphabet Inc. $GOOGL

Symphony Financial Ltd. Co. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2,444.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 400,853 shares of the information services provider’s stock after buying an additional 385,096 shares during the period. Symphony Financial Ltd. Co.’s holdings in Alphabet were worth $70,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Smart Money Group LLC increased its stake in shares of Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after acquiring an additional 532 shares during the last quarter. United Bank raised its holdings in shares of Alphabet by 2.1% during the 1st quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after acquiring an additional 910 shares during the period. Finally, Noesis Capital Mangement Corp raised its holdings in shares of Alphabet by 2.3% during the 1st quarter. Noesis Capital Mangement Corp now owns 30,158 shares of the information services provider’s stock worth $4,664,000 after acquiring an additional 688 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOGL. Jefferies Financial Group upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. DA Davidson reiterated a “neutral” rating and issued a $300.00 target price on shares of Alphabet in a report on Tuesday. BNP Paribas assumed coverage on shares of Alphabet in a research note on Monday. They issued an “outperform” rating and a $355.00 price target for the company. Guggenheim lifted their price target on shares of Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company upped their price objective on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.84.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 225,072 shares of company stock worth $58,074,027 over the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.0%

Alphabet stock opened at $320.02 on Friday. The company has a market capitalization of $3.86 trillion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83. The firm has a 50 day moving average price of $269.25 and a 200 day moving average price of $218.76.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

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.