Golden State Equity Partners lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,468 shares of the information services provider's stock after selling 3,945 shares during the quarter. Alphabet makes up 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 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the business. Highline Wealth Partners LLC bought a new position in shares of Alphabet in the 3rd quarter worth $3,131,000. Creekmur Asset Management LLC increased its position in shares of Alphabet by 5.8% during the third quarter. Creekmur Asset Management LLC now owns 12,768 shares of the information services provider's stock worth $2,118,000 after purchasing an additional 703 shares in the last quarter. Pathway Financial Advisers LLC increased its position in Alphabet by 28.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,318 shares of the information services provider's stock valued at $716,000 after acquiring an additional 960 shares during the period. WD Rutherford LLC increased its position in Alphabet by 2.2% during the 3rd quarter. WD Rutherford LLC now owns 31,715 shares of the information services provider's stock worth $5,260,000 after purchasing an additional 669 shares during the period. Finally, Adell Harriman & Carpenter Inc. boosted its stake in shares of Alphabet by 2.4% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 147,489 shares of the information services provider's stock worth $24,461,000 after acquiring an additional 3,421 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOGL traded up $1.27 during mid-day trading on Tuesday, reaching $181.62. 25,122,860 shares of the company traded hands, compared to its average volume of 27,119,752. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.22 trillion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock has a fifty day simple moving average of $163.88 and a 200-day simple moving average of $169.91.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter last year, the company posted $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is presently 10.61%.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 2,835 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,835 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company's stock, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,752 shares of company stock valued at $40,156,829. 11.55% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of analyst reports. Piper Sandler reiterated an "overweight" rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Wolfe Research started coverage on Alphabet in a research note on Tuesday, July 16th. They set an "outperform" rating and a $240.00 price target on the stock. Roth Mkm raised their price target on Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $205.90.
Get Our Latest Stock Analysis on GOOGL
About Alphabet
(
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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