Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 110.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,710 shares of the information services provider's stock after buying an additional 60,658 shares during the quarter. Alphabet accounts for about 1.3% of Golden State Wealth Management LLC's investment portfolio, making the stock its 15th largest position. Golden State Wealth Management LLC's holdings in Alphabet were worth $17,899,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc purchased a new position in Alphabet during the 4th quarter worth approximately $30,000. Anderson Financial Strategies LLC purchased a new position in Alphabet during the 4th quarter worth approximately $49,000. EQ Wealth Advisors LLC purchased a new position in Alphabet during the 1st quarter worth approximately $49,000. Navigoe LLC purchased a new position in Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. purchased a new position in Alphabet during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock worth $35,764,898 over the last ninety days. Corporate insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. UBS Group set a $195.00 target price on shares of Alphabet in a research note on Friday, April 25th. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research note on Friday. Jefferies Financial Group decreased their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Friday. Finally, Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $199.95.

Alphabet Price Performance

NASDAQ:GOOGL opened at $178.53 on Monday. The firm has a market cap of $2.17 trillion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $166.45 and its two-hundred day moving average price is $174.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the business earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's payout ratio is 9.36%.

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.

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