Sound Income Strategies LLC Sells 1,475 Shares of Alphabet Inc. (NASDAQ:GOOG)

Sound Income Strategies LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,166 shares of the information services provider’s stock after selling 1,475 shares during the quarter. Sound Income Strategies LLC’s holdings in Alphabet were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. McGuire Investment Group LLC boosted its stake in Alphabet by 37.5% in the 3rd quarter. McGuire Investment Group LLC now owns 2,125 shares of the information services provider’s stock worth $355,000 after purchasing an additional 580 shares in the last quarter. Willner & Heller LLC lifted its stake in shares of Alphabet by 27.8% in the third quarter. Willner & Heller LLC now owns 1,522 shares of the information services provider’s stock worth $254,000 after buying an additional 331 shares in the last quarter. JBR Co Financial Management Inc grew its holdings in shares of Alphabet by 13.6% during the third quarter. JBR Co Financial Management Inc now owns 6,860 shares of the information services provider’s stock valued at $1,147,000 after buying an additional 820 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Alphabet during the third quarter valued at approximately $204,000. Finally, Bright Financial Advisors Inc. purchased a new position in Alphabet in the 3rd quarter worth approximately $234,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $164.52 on Monday. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm’s 50 day simple moving average is $162.81 and its two-hundred day simple moving average is $169.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the previous year, the company earned $1.44 EPS. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,092 shares of company stock worth $35,644,136. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on GOOG. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Finally, TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet 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.