Sound View Wealth Advisors Group LLC Has $8.58 Million Stock Holdings in Alphabet Inc. $GOOGL

Sound View Wealth Advisors Group LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,678 shares of the information services provider’s stock after purchasing an additional 6,191 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Alphabet were worth $8,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mystic Asset Management Inc. grew its stake in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Alaethes Wealth LLC boosted its holdings in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. Moment Partners LLC grew its position in Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares in the last quarter. Finally, Welch Group LLC increased its stake in Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Truist Financial increased their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. CICC Research increased their price target on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Canaccord Genuity Group raised their price target on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Cantor Fitzgerald boosted their price target on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Alphabet Stock Up 3.5%

GOOGL stock opened at $299.66 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $306.42. The business’s 50 day simple moving average is $262.39 and its 200 day simple moving average is $213.06.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 225,174 shares of company stock worth $58,095,223. 11.64% of the stock is currently owned by corporate insiders.

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.