Sound Income Strategies LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Sound Income Strategies LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.2% in the fourth quarter, Holdings Channel reports. The firm owned 41,446 shares of the information services provider’s stock after acquiring an additional 3,500 shares during the period. Sound Income Strategies LLC’s holdings in Alphabet were worth $7,846,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LMR Partners LLP purchased a new position in Alphabet in the 3rd quarter valued at about $32,000. Denver PWM LLC boosted its position in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the last quarter. Quarry LP purchased a new position in Alphabet in the 2nd quarter valued at about $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the 3rd quarter valued at about $66,000. Finally, Mendota Financial Group LLC boosted its position in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Loop Capital upped their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada increased their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC increased their price target on shares of Alphabet from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Monday. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $209.82.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.1 %

Alphabet stock opened at $195.41 on Thursday. The company has a 50 day moving average price of $187.14 and a 200 day moving average price of $173.69. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business posted $1.55 EPS. Research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

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.