Golden State Wealth Management LLC Acquires 288 Shares of Alphabet Inc. $GOOG

Golden State Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,448 shares of the information services provider’s stock after acquiring an additional 288 shares during the period. Golden State Wealth Management LLC’s holdings in Alphabet were worth $1,853,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GOOG. RDA Financial Network lifted its holdings in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the period. Bleakley Financial Group LLC raised its position in Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after buying an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC purchased a new position in Alphabet during the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. boosted its holdings in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $279.70 on Friday. The firm has a market cap of $3.38 trillion, a PE ratio of 27.58, a P/E/G 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 $291.93. 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 business has a 50-day moving average price of $251.81 and a 200 day moving average price of $205.14.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for 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%.Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analyst Ratings Changes

GOOG has been the subject of several recent research reports. Robert W. Baird raised their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Morgan Stanley increased their price target on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Rosenblatt Securities set a $279.00 price objective on Alphabet in a report on Thursday, October 30th. Finally, Jefferies Financial Group raised their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given 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 an average target price of $324.81.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction 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 transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following 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 SEC filing for this sale provides additional information. Insiders have sold 222,396 shares of company stock worth $54,105,275 in the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Company 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.