Sound Income Strategies LLC Buys 3,500 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sound Income Strategies LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,446 shares of the information services provider's stock after acquiring an additional 3,500 shares during the quarter. Sound Income Strategies LLC's holdings in Alphabet were worth $7,846,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOOGL. International Assets Investment Management LLC raised its holdings in Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC increased its position in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock valued at $1,772,991,000 after buying an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock worth $1,437,957,000 after buying an additional 4,662,809 shares during the period. JPMorgan Chase & Co. lifted its holdings in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Alphabet by 115.4% in the second quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider's stock valued at $1,264,022,000 after acquiring an additional 3,718,420 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Wolfe Research raised their price target on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Bank of America restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Piper Sandler reiterated an "overweight" rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. The Goldman Sachs Group restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $209.82.

Alphabet Stock Performance

Shares of GOOGL stock traded up $4.38 during midday trading on Thursday, hitting $199.79. 9,551,657 shares of the company were exchanged, compared to its average volume of 23,832,391. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 26.49, a PEG ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29. The firm's 50 day moving average price is $187.53 and its two-hundred day moving average price is $173.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company's stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,887 shares of company stock valued at $22,470,464. Insiders own 11.55% of the company's stock.

About Alphabet

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.