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

Strait & Sound Wealth Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,316 shares of the information services provider’s stock after selling 340 shares during the quarter. Alphabet accounts for 1.5% of Strait & Sound Wealth Management LLC’s 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 reporting period.

A number of other institutional investors also recently bought and sold shares of GOOGL. FMR LLC raised its stake in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. Northern Trust Corp raised its stake in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after acquiring an additional 2,416,328 shares during the period. Fisher Asset Management LLC lifted its holdings in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after purchasing an additional 1,472,043 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Alphabet by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock worth $4,876,605,000 after purchasing an additional 874,919 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Alphabet by 7.8% in the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $176.38 on Thursday. The business has a fifty day moving average of $159.52 and a 200 day moving average of $146.20. The stock has a market cap of $2.18 trillion, a P/E ratio of 27.05, a PEG ratio of 1.36 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $178.77.

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

Alphabet Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on GOOGL. Truist Financial upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Evercore ISI increased their target price on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Loop Capital lifted their target price on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Wedbush upped their price target on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 205,935 shares of company stock valued at $31,178,987 over the last quarter. 11.55% of the stock is owned by corporate 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.