AlphaStar Capital Management LLC Sells 717 Shares of Alphabet Inc. $GOOGL

AlphaStar Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,526 shares of the information services provider’s stock after selling 717 shares during the quarter. Alphabet comprises approximately 0.7% of AlphaStar Capital Management LLC’s portfolio, making the stock its 28th biggest holding. AlphaStar Capital Management LLC’s holdings in Alphabet were worth $11,019,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Gimbal Financial grew its stake in Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares in the last quarter. Missouri Trust & Investment Co lifted its position in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. Silver Coast Investments LLC grew its stake in Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after buying an additional 55 shares in the last quarter. AM Investment Strategies LLC increased its holdings in shares of Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares during the last quarter. Finally, Bfsg LLC grew its position in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $286.71 on Thursday. The company has a 50 day simple moving average of $255.49 and a two-hundred day simple moving average of $207.29. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $292.01. The company has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. Needham & Company LLC upped their price target on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. China Renaissance boosted their target price on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Tigress Financial raised their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, BMO Capital Markets set a $294.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Thursday, October 9th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 over the last three months. 11.55% of the stock is owned by insiders.

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.