Sound View Wealth Advisors Group LLC Sells 3,282 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sound View Wealth Advisors Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,274 shares of the information services provider’s stock after selling 3,282 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Alphabet were worth $4,788,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GOOGL. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Meritage Group LP boosted its stake in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares in the last quarter. Armor Investment Advisors LLC grew its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in Alphabet in the fourth quarter valued at $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $177.85 on Wednesday. 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 business’s 50 day simple moving average is $158.79 and its 200 day simple moving average is $145.98. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $178.77. The company has a market cap of $2.20 trillion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock worth $31,178,987 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. Evercore ISI raised their target price on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Canaccord Genuity Group increased their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Raymond James boosted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Truist Financial raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

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.