Alphabet Inc. $GOOG Shares Bought by GSB Wealth Management LLC

Key Points

• GSB Wealth Management LLC increased its holdings in Alphabet Inc. by 27.0%, now owning 23,050 shares valued at approximately $4,089,000.
• Alphabet's quarterly earnings report showed an EPS of $2.31, surpassing analyst estimates and generating $96.43 billion in revenue for the quarter.
• The company declared a $0.21 quarterly dividend, reflecting an annualized yield of 0.3%, and insiders sold over 258,000 shares worth approximately $52 million recently.

GSB Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 27.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,050 shares of the information services provider's stock after purchasing an additional 4,900 shares during the quarter. Alphabet accounts for about 1.0% of GSB Wealth Management LLC's holdings, making the stock its 29th largest holding. GSB Wealth Management LLC's holdings in Alphabet were worth $4,089,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. LongView Wealth Management raised its holdings 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. Kooman & Associates raised its holdings in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after purchasing an additional 56 shares during the period. NCM Capital Management LLC raised its holdings in Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock worth $438,000 after purchasing an additional 60 shares during the period. Legacy Private Trust Co. increased its stake in Alphabet by 0.6% during the 2nd quarter. Legacy Private Trust Co. now owns 9,956 shares of the information services provider's stock worth $1,766,000 after buying an additional 60 shares in the last quarter. Finally, Faithward Advisors LLC increased its stake in Alphabet by 2.5% during the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider's stock worth $391,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. Finally, UBS Group boosted their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $230.35.

Alphabet Stock Down 0.2%

NASDAQ:GOOG opened at $252.34 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's fifty day moving average is $212.86 and its two-hundred day moving average is $182.73. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.71 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. The firm's revenue was up 13.8% compared to the same quarter last year. 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, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock valued at $52,405,304. Insiders own 12.99% of the company's stock.

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.

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