Golden State Equity Partners Increases Holdings in Alphabet Inc. $GOOG

Key Points

• Golden State Equity Partners increased its holdings in Alphabet Inc. by 31.0% in Q2, owning 6,607 shares valued at approximately $1,172,000.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding analyst estimates, with revenues of $96.43 billion—up 13.8% year-over-year.
• The company declared a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3%, with a dividend payout ratio of 8.95%.

Golden State Equity Partners lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 31.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,607 shares of the information services provider's stock after purchasing an additional 1,562 shares during the period. Golden State Equity Partners' holdings in Alphabet were worth $1,172,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the first quarter worth $26,000. Goodman Advisory Group LLC purchased a new stake in Alphabet during the first quarter worth $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in Alphabet during the first quarter worth $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of GOOG opened at $252.34 on Wednesday. The business's 50-day moving average is $212.86 and its two-hundred day moving average is $182.73. The company has a market capitalization of $3.05 trillion, a P/E ratio of 26.87, a P/E/G ratio of 1.71 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated 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 directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 in the last three months. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Oppenheimer reiterated an "outperform" rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.35.

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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