Sound Income Strategies LLC Has $138,000 Stake in Alphabet Inc (NASDAQ:GOOGL)

Sound Income Strategies LLC boosted its stake in Alphabet Inc (NASDAQ:GOOGL) by 76.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127 shares of the information services provider’s stock after purchasing an additional 55 shares during the period. Sound Income Strategies LLC’s holdings in Alphabet were worth $138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canal Capital Management LLC grew its stake in shares of Alphabet by 0.8% in the 4th quarter. Canal Capital Management LLC now owns 1,172 shares of the information services provider’s stock valued at $1,225,000 after buying an additional 9 shares during the period. Clarkston Capital Partners LLC grew its stake in shares of Alphabet by 4.0% in the 4th quarter. Clarkston Capital Partners LLC now owns 260 shares of the information services provider’s stock valued at $272,000 after buying an additional 10 shares during the period. Community Bank & Trust Waco Texas grew its stake in shares of Alphabet by 0.8% in the 4th quarter. Community Bank & Trust Waco Texas now owns 1,286 shares of the information services provider’s stock valued at $1,344,000 after buying an additional 10 shares during the period. Shufro Rose & Co. LLC grew its stake in shares of Alphabet by 2.4% in the 4th quarter. Shufro Rose & Co. LLC now owns 434 shares of the information services provider’s stock valued at $454,000 after buying an additional 10 shares during the period. Finally, South Texas Money Management Ltd. grew its stake in shares of Alphabet by 3.1% in the 4th quarter. South Texas Money Management Ltd. now owns 329 shares of the information services provider’s stock valued at $344,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 33.93% of the company’s stock.

Several analysts have recently commented on GOOGL shares. Canaccord Genuity raised their target price on Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC set a $1,350.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their target price on Alphabet to $1,425.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. KeyCorp restated an “overweight” rating and issued a $1,516.00 target price (up from $1,430.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $1,371.05.

Shares of GOOGL stock traded down $15.46 during trading hours on Friday, hitting $1,196.32. 1,744,887 shares of the company were exchanged, compared to its average volume of 1,612,959. The company’s fifty day moving average price is $1,137.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,296.97. The firm has a market cap of $845.73 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.34 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. Research analysts forecast that Alphabet Inc will post 51.94 EPS for the current fiscal year.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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