Golden State Wealth Management LLC Has $3.47 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Golden State Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 132.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,216 shares of the information services provider’s stock after purchasing an additional 12,650 shares during the quarter. Golden State Wealth Management LLC’s holdings in Alphabet were worth $3,472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principia Wealth Advisory LLC raised its position in shares of 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 purchasing an additional 85 shares during the period. LSV Asset Management bought a new stake in Alphabet during the 4th quarter valued at $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the fourth quarter valued at $43,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. Susquehanna restated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. raised their target price on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Finally, Scotiabank dropped their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 673 shares of the business’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 sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

Alphabet Stock Performance

NASDAQ GOOG opened at $171.49 on Thursday. The company has a market capitalization of $2.08 trillion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a 50-day simple moving average of $166.90 and a 200 day simple moving average of $176.24.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced 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 is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 9.36%.

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.