GSB Wealth Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

GSB Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,047 shares of the information services provider’s stock after buying an additional 92 shares during the period. Alphabet comprises approximately 0.9% of GSB Wealth Management LLC’s holdings, making the stock its 29th largest position. GSB Wealth Management LLC’s holdings in Alphabet were worth $3,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Weiss Asset Management LP bought a new position in Alphabet in the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth $33,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter worth $40,000. Sanctuary Wealth Management L.L.C. raised its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC lifted its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 4.1 %

Shares of Alphabet stock opened at $193.64 on Tuesday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The firm’s 50 day simple moving average is $187.95 and its two-hundred day simple moving average is $175.08. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS. Analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on GOOG shares. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

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.