Prospera Financial Services Inc Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Prospera Financial Services Inc raised its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,936.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,328 shares of the information services provider’s stock after purchasing an additional 97,304 shares during the period. Prospera Financial Services Inc’s holdings in Alphabet were worth $9,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. IAG Wealth Partners LLC lifted its stake in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after buying an additional 262 shares during the period. Artemis Wealth Advisors LLC lifted its stake in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares during the period. Horizons Wealth Management purchased a new position in shares of Alphabet during the second quarter valued at approximately $33,000. Schubert & Co lifted its stake in shares of Alphabet by 1,200.0% during the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock valued at $35,000 after buying an additional 336 shares during the period. Finally, Carolina Wealth Advisors LLC lifted its stake in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after buying an additional 380 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Trading Up 5.3 %

NASDAQ GOOGL opened at $98.02 on Monday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. The company’s fifty day moving average price is $93.03 and its two-hundred day moving average price is $101.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter last year, the company earned $1.40 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders have acquired 661,702 shares of company stock worth $23,399,217 and have sold 190,744 shares worth $8,564,640. Insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Needham & Company LLC reduced their price objective on shares of Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, December 22nd. Truist Financial dropped their price target on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Robert W. Baird dropped their price target on shares of Alphabet to $120.00 in a research report on Thursday, October 27th. JMP Securities dropped their price target on shares of Alphabet from $145.00 to $132.00 in a research report on Wednesday, November 23rd. Finally, Sanford C. Bernstein dropped their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.13.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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