2,120 Shares in Alphabet Inc. $GOOG Bought by Prosperity Advisers LLC

Prosperity Advisers LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,120 shares of the information services provider’s stock, valued at approximately $665,000. Alphabet comprises approximately 0.5% of Prosperity Advisers LLC’s holdings, making the stock its 19th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Imprint Wealth LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $31,000. Manning & Napier Advisors LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $32,000. Tripletail Wealth Management LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $40,000. Retirement Wealth Solutions LLC lifted its position in shares of Alphabet by 145.0% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock worth $48,000 after buying an additional 116 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC lifted its position in shares of Alphabet by 56.8% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 218 shares of the information services provider’s stock worth $53,000 after buying an additional 79 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. TD Cowen reaffirmed a “buy” rating and issued a $375.00 target price (up from $365.00) on shares of Alphabet in a report on Thursday. DZ Bank raised Alphabet to a “strong-buy” rating in a report on Monday, February 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $400.00 target price on shares of Alphabet in a report on Thursday, February 5th. Finally, Pivotal Research reaffirmed a “buy” rating and issued a $420.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, February 5th. Eight analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $346.03.

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Alphabet Price Performance

Shares of GOOG opened at $339.40 on Friday. Alphabet Inc. has a 12-month low of $148.40 and a 12-month high of $350.15. The business has a 50-day simple moving average of $305.98 and a two-hundred day simple moving average of $301.90. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.11 trillion, a PE ratio of 31.40, a PEG ratio of 2.05 and a beta of 1.13.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.23. The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is presently 7.77%.

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $302.99, for a total value of $33,934.88. Following the completion of the sale, the director owned 18,418 shares of the company’s stock, valued at approximately $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the sale, the director directly owned 4,631 shares of the company’s stock, valued at approximately $1,405,091.71. The trade was a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,068,744 shares of company stock valued at $104,505,914. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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