Strait & Sound Wealth Management LLC Acquires 5,016 Shares of Alphabet Inc. $GOOGL

Strait & Sound Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 19.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,849 shares of the information services provider’s stock after acquiring an additional 5,016 shares during the quarter. Alphabet comprises approximately 2.3% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Strait & Sound Wealth Management LLC’s holdings in Alphabet were worth $5,437,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GOOGL. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Latitude Advisors LLC boosted its position in Alphabet by 15.3% during the first quarter. Latitude Advisors LLC now owns 5,652 shares of the information services provider’s stock worth $874,000 after purchasing an additional 752 shares in the last quarter. Clune & Associates LTD. grew its holdings in Alphabet by 38.7% in the first quarter. Clune & Associates LTD. now owns 3,234 shares of the information services provider’s stock valued at $500,000 after purchasing an additional 902 shares during the last quarter. Finally, Chaney Capital Management Inc. grew its holdings in Alphabet by 1.3% in the first quarter. Chaney Capital Management Inc. now owns 42,602 shares of the information services provider’s stock valued at $6,588,000 after purchasing an additional 560 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 189,896 shares of company stock valued at $44,892,175. 11.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. CIBC lifted their target price on shares of Alphabet to $315.00 in a research report on Monday, October 20th. Evercore ISI increased their price target on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. President Capital raised their price objective on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Price Performance

GOOGL stock opened at $284.75 on Friday. The stock has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59. The stock’s fifty day simple moving average is $249.91 and its 200-day simple moving average is $203.28.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS 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.