Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,164 shares of the information services provider’s stock after selling 1,002 shares during the quarter. Sound Income Strategies LLC’s holdings in Alphabet were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the third quarter worth about $33,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth about $40,000. Sanctuary Wealth Management L.L.C. raised its stake in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC raised its stake in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Trading Up 1.2 %

NASDAQ GOOG opened at $201.90 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The stock has a market capitalization of $2.47 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The firm has a 50 day moving average of $187.95 and a two-hundred day moving average of $175.21.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal 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.