Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,446 shares of the information services provider’s stock after buying an additional 3,500 shares during the period. Sound Income Strategies LLC’s holdings in Alphabet were worth $7,846,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter worth approximately $32,000. Denver PWM LLC grew its position in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP purchased a new stake in shares of Alphabet in the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet in the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC grew its position in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred 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 directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 122,887 shares of company stock worth $22,470,464. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research upped their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. DA Davidson upped their price target on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Evercore ISI increased their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Alphabet Price Performance

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

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate 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 firm earned $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet 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.