Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Prospera Private Wealth LLC

Prospera Private Wealth LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 214.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,053 shares of the information services provider’s stock after acquiring an additional 2,766 shares during the period. Prospera Private Wealth LLC’s holdings in Alphabet were worth $672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP purchased a new position in Alphabet in the third quarter valued at about $32,000. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter valued at approximately $36,000. Denver PWM LLC purchased a new stake in Alphabet during the 2nd quarter worth approximately $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Tigress Financial lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Bank of America increased their target price on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,624 shares of company stock worth $27,803,730 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOGL opened at $171.34 on Wednesday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01. The business has a 50 day moving average price of $168.84 and a two-hundred day moving average price of $170.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

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.