Prosperity Consulting Group LLC Has $12.02 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

by · The Cerbat Gem

Prosperity Consulting Group LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,495 shares of the information services provider’s stock after purchasing an additional 1,077 shares during the period. Alphabet comprises about 0.9% of Prosperity Consulting Group LLC’s holdings, making the stock its 22nd largest position. Prosperity Consulting Group LLC’s holdings in Alphabet were worth $12,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bolthouse Investments LLC bought a new stake in shares of Alphabet during the 4th quarter worth about $2,035,000. Boothbay Fund Management LLC boosted its position in Alphabet by 2.1% during the fourth quarter. Boothbay Fund Management LLC now owns 11,178 shares of the information services provider’s stock worth $2,116,000 after purchasing an additional 229 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $36,258,000. Coldstream Capital Management Inc. raised its position in shares of Alphabet by 3.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 138,658 shares of the information services provider’s stock valued at $26,248,000 after purchasing an additional 4,835 shares during the period. Finally, Capital Analysts LLC lifted its stake in shares of Alphabet by 58.9% in the fourth quarter. Capital Analysts LLC now owns 59,558 shares of the information services provider’s stock worth $11,275,000 after buying an additional 22,071 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.7 %

Shares of Alphabet stock opened at $161.96 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $162.18 and its 200-day moving average is $175.43. The stock has a market cap of $1.97 trillion, a P/E ratio of 20.12, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. Alphabet’s payout ratio is currently 9.94%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group cut their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Rosenblatt Securities decreased their price target on shares of Alphabet from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.03.

View Our Latest Report on GOOGL

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at $7,997,521.61. This represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock valued at $25,361,647 in the last quarter. 11.55% of the stock is currently owned by insiders.

Alphabet Company Profile

(Free Report)

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.

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