Garden State Investment Advisory Services LLC Buys 2,532 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Garden State Investment Advisory Services LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,936 shares of the information services provider’s stock after purchasing an additional 2,532 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Alphabet were worth $2,146,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP purchased a new stake in Alphabet in the third quarter worth $32,000. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new stake in Alphabet during the 2nd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $188.51 on Friday. The firm has a market cap of $2.31 trillion, a P/E ratio of 25.00, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $173.99 and a 200 day moving average of $171.21.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the firm posted $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Roth Mkm upped their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Loop Capital boosted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $206.69.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,957 shares of company stock valued at $31,358,687. Insiders own 11.55% of the company’s stock.

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.