Soundwatch Capital LLC Purchases Shares of 626,745 Alphabet Inc. $GOOG

Soundwatch Capital LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 626,745 shares of the information services provider’s stock, valued at approximately $111,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. REDW Wealth LLC raised its holdings in Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after acquiring an additional 54 shares during the period. GDS Wealth Management grew its position in shares of Alphabet by 2.4% during the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock worth $412,000 after purchasing an additional 54 shares in the last quarter. ACT Advisors LLC. raised its stake in Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC lifted its holdings in Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares in the last quarter. Finally, LongView Wealth Management boosted its stake in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $299.65 on Friday. The company’s 50-day moving average price is $262.98 and its 200-day moving average price is $214.24. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.62 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $306.89.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping 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 company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the business posted $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the sale, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 227,952 shares of company stock worth $58,896,009. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a report on Thursday, October 30th. Bank of America boosted their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

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.