Strait & Sound Wealth Management LLC Sells 340 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Strait & Sound Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,316 shares of the information services provider’s stock after selling 340 shares during the quarter. Alphabet makes up about 1.5% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Strait & Sound Wealth Management LLC’s holdings in Alphabet were worth $2,450,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. FMR LLC raised its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Alphabet in the 3rd quarter valued at about $634,465,000. Ontario Teachers Pension Plan Board bought a new position in Alphabet during the third quarter worth about $601,545,000. Finally, Lone Pine Capital LLC acquired a new position in Alphabet during the third quarter worth approximately $407,367,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 205,935 shares of company stock worth $31,178,987 in the last 90 days. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. TD Cowen raised their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wedbush lifted their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC lifted their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $190.60.

Get Our Latest Stock Report on Alphabet

Alphabet Stock Down 0.8 %

Shares of NASDAQ GOOGL opened at $176.38 on Thursday. The stock has a 50-day moving average price of $159.52 and a two-hundred day moving average price of $146.20. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $178.77. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.36 and a beta of 1.02.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the company earned $1.17 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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