Alphabet Inc. $GOOGL Position Lifted by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,849 shares of the information services provider’s stock after buying an additional 5,016 shares during the quarter. Alphabet accounts for 2.3% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 9th largest position. Strait & Sound Wealth Management LLC’s holdings in Alphabet were worth $5,437,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOOGL. Mystic Asset Management Inc. grew its position in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares during the period. Alaethes Wealth LLC grew its holdings in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after purchasing an additional 84 shares in the last quarter. Moment Partners LLC increased its stake in Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after buying an additional 504 shares during the period. Finally, Blackhawk Capital Partners LLC. lifted its holdings in Alphabet by 8.4% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock worth $4,832,000 after buying an additional 2,434 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOGL. HSBC lifted their target price on Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Canaccord Genuity Group upped their target price on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Morgan Stanley upped their target price on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Stock Performance

GOOGL stock opened at $284.75 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s fifty day moving average is $249.91 and its two-hundred day moving average is $203.28. The stock has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. This represents a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 189,896 shares of company stock valued at $44,892,175. 11.64% of the stock is currently owned by insiders.

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.