Golden State Wealth Management LLC Buys 10,587 Shares of Alphabet Inc. $GOOGL

Golden State Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 19.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,398 shares of the information services provider’s stock after purchasing an additional 10,587 shares during the quarter. Alphabet accounts for approximately 1.4% of Golden State Wealth Management LLC’s holdings, making the stock its 14th biggest position. Golden State Wealth Management LLC’s holdings in Alphabet were worth $11,525,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in Alphabet in the first quarter worth about $50,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $290.00 target price on shares of Alphabet in a research note on Wednesday, October 22nd. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Westpark Capital increased their target price on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Guggenheim boosted their price target on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Sanford C. Bernstein upped their price target on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Alphabet Trading Down 0.3%

GOOGL stock opened at $284.28 on Wednesday. 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 stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $293.95. The firm’s fifty day simple moving average is $259.16 and its two-hundred day simple moving average is $211.00.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 (DPR) is presently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at approximately $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 189,896 shares of company stock valued at $47,653,637 over the last 90 days. 11.64% of the stock is owned by corporate insiders.

About Alphabet

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.