Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Golden State Equity Partners

Golden State Equity Partners cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 39,468 shares of the information services provider’s stock after selling 3,945 shares during the period. Alphabet comprises about 1.5% of Golden State Equity Partners’ holdings, making the stock its 9th biggest holding. Golden State Equity Partners’ holdings in Alphabet were worth $6,546,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its position in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after buying an additional 4,064,073 shares during the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the period. Capital World Investors grew its holdings in shares of Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after purchasing an additional 597,756 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein lifted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 700 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now owns 29,324 shares in the company, valued at approximately $4,838,460. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock worth $40,156,829 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $180.35 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $163.54 and a 200 day moving average price of $169.74. The company has a market cap of $2.21 trillion, a P/E ratio of 23.92, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio is presently 10.61%.

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.