AlphaStar Capital Management LLC Lowers Position in Alphabet Inc. $GOOGL

AlphaStar Capital Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 62,526 shares of the information services provider’s stock after selling 717 shares during the period. Alphabet accounts for about 0.7% of AlphaStar Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. AlphaStar Capital Management LLC’s holdings in Alphabet were worth $11,019,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Mystic Asset Management Inc. increased its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Alaethes Wealth LLC boosted its holdings in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the period. Moment Partners LLC boosted its stake in shares of Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the period. Finally, Welch Group LLC grew its stake in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after acquiring an additional 2,467 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 221,796 shares of company stock worth $53,983,001. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $286.71 on Thursday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $292.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.46 trillion, a PE ratio of 28.28, a PEG ratio of 1.86 and a beta of 1.05. The company’s 50 day moving average price is $255.49 and its 200 day moving average price is $207.29.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be 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 is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Citigroup restated a “buy” rating and issued a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. JMP Securities restated a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. KeyCorp restated an “overweight” rating and issued a $300.00 price target (up previously from $265.00) on shares of Alphabet in a research note on Monday, October 27th. Roth Capital upped their price objective on shares of Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, BNP Paribas Exane increased their price target on Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $304.10.

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.