Golden State Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 132.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,216 shares of the information services provider's stock after purchasing an additional 12,650 shares during the period. Golden State Wealth Management LLC's holdings in Alphabet were worth $3,472,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Aurora Private Wealth Inc. boosted its stake in Alphabet by 352.9% in the 1st quarter. Aurora Private Wealth Inc. now owns 41,617 shares of the information services provider's stock worth $6,502,000 after purchasing an additional 32,428 shares in the last quarter. Kellett Wealth Advisors LLC grew its stake in shares of Alphabet by 9.9% during the 1st quarter. Kellett Wealth Advisors LLC now owns 2,621 shares of the information services provider's stock valued at $409,000 after purchasing an additional 236 shares during the period. MOKAN Wealth Management Inc. increased its position in shares of Alphabet by 5.2% during the 1st quarter. MOKAN Wealth Management Inc. now owns 21,230 shares of the information services provider's stock valued at $3,317,000 after purchasing an additional 1,050 shares during the last quarter. Berkshire Money Management Inc. lifted its stake in shares of Alphabet by 8.5% in the 1st quarter. Berkshire Money Management Inc. now owns 1,910 shares of the information services provider's stock worth $298,000 after purchasing an additional 149 shares during the period. Finally, Mattern Capital Management LLC boosted its holdings in shares of Alphabet by 7.1% in the first quarter. Mattern Capital Management LLC now owns 5,950 shares of the information services provider's stock worth $930,000 after buying an additional 392 shares during the last quarter. 27.26% of the stock is owned by institutional investors.
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,306 shares of company stock valued at $35,782,927 in the last 90 days. Insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on GOOG. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, Westpark Capital reissued a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.88.
Get Our Latest Analysis on Alphabet
Alphabet Price Performance
NASDAQ GOOG traded up $2.94 during trading hours on Thursday, reaching $174.43. The company's stock had a trading volume of 25,862,351 shares, compared to its average volume of 20,718,715. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. 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 has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.18 and a beta of 1.01. The firm's 50-day moving average price is $166.90 and its 200-day moving average price is $176.24.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.
Alphabet Profile
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Free Report)
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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