Strait & Sound Wealth Management LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Strait & Sound Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 44.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,321 shares of the information services provider’s stock after buying an additional 8,433 shares during the quarter. Alphabet comprises approximately 2.2% of Strait & Sound Wealth Management LLC’s holdings, making the stock its 9th biggest position. Strait & Sound Wealth Management LLC’s holdings in Alphabet were worth $4,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. LMR Partners LLP bought a new stake in Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet in the second quarter valued at $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,957 shares of company stock worth $31,358,687. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Evercore ISI increased their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Sanford C. Bernstein lifted their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $195.42 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The firm has a market cap of $2.39 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The firm’s fifty day moving average is $172.93 and its 200-day moving average is $170.97.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s payout ratio is 10.61%.

Alphabet Company 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.