Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 44.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,321 shares of the information services provider’s stock after acquiring an additional 8,433 shares during the period. Alphabet comprises approximately 2.2% of Strait & Sound Wealth Management LLC’s holdings, making the stock its 9th largest position. Strait & Sound Wealth Management LLC’s holdings in Alphabet were worth $4,531,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Schear Investment Advisers LLC lifted its position in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC grew its holdings in Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the period. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares during the period. abrdn plc increased its stake in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. grew its position in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on GOOGL. DA Davidson began coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Morgan Stanley increased their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,957 shares of company stock worth $31,358,687 in the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $195.42 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $172.93 and a 200 day moving average of $170.97. The company has a market cap of $2.39 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.