Sound View Wealth Advisors Group LLC Sells 3,182 Shares of Alphabet Inc. $GOOG

Sound View Wealth Advisors Group LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,354 shares of the information services provider’s stock after selling 3,182 shares during the quarter. Alphabet comprises 1.2% of Sound View Wealth Advisors Group LLC’s portfolio, making the stock its 21st biggest holding. Sound View Wealth Advisors Group LLC’s holdings in Alphabet were worth $18,625,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Imprint Wealth LLC purchased a new position in Alphabet during the third quarter worth $31,000. Manning & Napier Advisors LLC purchased a new stake in shares of Alphabet in the third quarter valued at $32,000. Tripletail Wealth Management LLC bought a new stake in shares of Alphabet in the 3rd quarter worth about $40,000. Retirement Wealth Solutions LLC lifted its holdings in shares of Alphabet by 145.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock worth $48,000 after acquiring an additional 116 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC boosted its stake in shares of Alphabet by 56.8% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 218 shares of the information services provider’s stock worth $53,000 after purchasing an additional 79 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 3.3%

GOOG stock opened at $289.20 on Wednesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $350.15. The firm’s 50-day moving average is $316.04 and its 200 day moving average is $294.86. The company has a market capitalization of $3.50 trillion, a PE ratio of 26.75, a P/E/G ratio of 1.75 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.23. The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.15 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were issued a $0.21 dividend. The ex-dividend date was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 7.77%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Analysts Set New Price Targets

Several brokerages recently commented on GOOG. Wedbush reiterated an “outperform” rating and set a $370.00 price target on shares of Alphabet in a report on Thursday, February 5th. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Wednesday, December 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $375.00 target price on shares of Alphabet in a research note on Thursday, January 15th. DZ Bank upgraded Alphabet to a “strong-buy” rating in a report on Monday, February 16th. Finally, DA Davidson set a $300.00 price target on Alphabet in a research note on Tuesday, November 25th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $345.71.

Get Our Latest Stock Report on Alphabet

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $302.99, for a total value of $33,934.88. Following the transaction, the director owned 18,418 shares of the company’s stock, valued at $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $303.41, for a total value of $318,580.50. Following the transaction, the director owned 4,631 shares in the company, valued at $1,405,091.71. The trade was a 18.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,110,165 shares of company stock valued at $118,134,117 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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