Sound Income Strategies LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sound Income Strategies LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Weiss Asset Management LP purchased a new position in Alphabet during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the 3rd quarter worth $33,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter worth $40,000. Sanctuary Wealth Management L.L.C. raised its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its position in Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GOOG. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Alphabet Stock Performance

NASDAQ:GOOG opened at $201.90 on Monday. The firm has a 50 day simple moving average of $187.95 and a 200-day simple moving average of $175.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.47 trillion, a PE ratio of 26.78, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84.

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

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the 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 transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by company insiders.

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.