Sound Income Strategies LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Sound Income Strategies LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,946 shares of the information services provider’s stock after purchasing an additional 1,792 shares during the quarter. Sound Income Strategies LLC’s holdings in Alphabet were worth $6,293,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOGL opened at $164.07 on Tuesday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a market cap of $2.03 trillion, a PE ratio of 25.16, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $161.80 and a 200 day moving average of $168.35.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Tuesday, October 15th. Roth Mkm restated a “buy” rating and set a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. UBS Group boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Citigroup boosted their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

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.