Google stock split: Quicken removed new shares??

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Paul Guagliardo
Paul Guagliardo Member ✭✭
edited August 2022 in Investing (Windows)
My account is with E*Trade.

I had 3 shares of each Google, Class A and Class C. Quicken accurately reflected the 1 for .05 stock split on July 18 and showed a new balance of 60 shares each. Each entry was listed as "from the data feed."

But then on the same date, Quicken for some reason removed 57 shares of each, leaving me only 3 shares of each at COB prices ($107.90 for A; $108.36 for C as of 7/22/2022.) Each entry is also described on the ledger sheet as "transfer OUT."
My Account Overview (Holdings) show only three (3) shares of each.

Anyone have a similar experience, particularly with E*Trade? Or know why this happened?

Should I just delete (or Void) the two "transfer OUT" entries? Should that then restore the 57 shares of each stock? I don't mind doing that but would like to prevent this happening in the future--to me or to others.

Thanks in advance.

Comments

  • Sherlock
    Sherlock Member ✭✭✭✭
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    I suggest you delete these placeholder transactions.

    To prevent Quicken from automatically entering placeholder transactions, I suggest you select Clear All on the Compare Portfolio window: select Edit > Preferences...




  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
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    I am not sure the Remove Shares (?) (Transfer Out description in memo?) are placeholders, but regardless, I believe you should delete those two transactions.  The transactions relevant to this event are two StkSplit transactions.  Nothing else is needed.  Deleting the two should restore you to 60 shares each.     
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    I'd say the best approach here would to remove everything downloaded from E*Trade with respect to the stock splits.  The, on the appropriate date, manually enter a "Stock Split" action for each stock class.  That will result in the correct number of shares for each class and also ensure that basis is properly allocated across those shares.
    You don't describe the entries E*Trade sent to Quicken in enough detail to ascertain if the transactions accurately reflected in all respects the effect of the stock splits.  Brokers are notorious for providing information to Quicken that focuses on the number of shares in an account without taking into account cost basis issues related to the transaction.  For example, if those entries you describe as  "from the data feed" were simple "Add" actions of 57 shares with no cost basis associated with those shares, then overall your data is correct but in detail it's wrong.
    As far as I know brokers can't send a "stock split" action to Quicken so they have to resort to other methods.  A correct series of transactions for a broker to send here would be, first, two Remove actions removing the original 3 shares of each class (and their basis) from your Quicken Account, followed by two Add actions, each for 60 shares and each with the correct basis for those 60 shares.
  • Paul Guagliardo
    Paul Guagliardo Member ✭✭
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    Thank you all for your responses. I went ahead and just voided each "Remove" action and my account overview now shows 60 shares of each stock. Still baffled by what caused the "Remove" actions to occur in the first place. Nothing on my e*Trade account suggests any reason for it. I've been a Quicken user for years and had stock splits reflected accurately. This is the first time any shares have been removed. In this case the number of shares removed (57) resulted in the original pre-split number--3-- but at the new, post-split price, i.e., 1/20th of the price.

    To satisfy my curiosity, I'm hoping that one of you smarter guys (or gals) will com up with an explanation.

    Thanks again.
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