Golden State Equity Partners Has $9.24 Million Position in Alphabet Inc. $GOOGL

Key Points

• Golden State Equity Partners increased its stake in Alphabet Inc. by 23.0% during Q2, holding 52,453 shares valued at approximately $9.24 million.
• Alphabet's quarterly earnings exceeded estimates, reporting $2.31 EPS and revenue of $96.43 billion against expectations of $93.60 billion.
• Alphabet announced a quarterly dividend of $0.21 per share, which represents an annual dividend yield of 0.3%.

Golden State Equity Partners boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,453 shares of the information services provider's stock after acquiring an additional 9,809 shares during the quarter. Alphabet accounts for 1.7% of Golden State Equity Partners' portfolio, making the stock its 7th largest position. Golden State Equity Partners' holdings in Alphabet were worth $9,244,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% in 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. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $245.79 on Friday. The company's fifty day moving average is $214.70 and its two-hundred day moving average is $182.46. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a market cap of $2.97 trillion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,088 shares of company stock worth $52,405,304. Insiders own 11.64% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOGL. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Rosenblatt Securities lifted their price objective on shares of Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Wedbush increased their target price on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada raised their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Finally, BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $232.90.

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.

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