Prosperity Consulting Group LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Prosperity Consulting Group LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,836 shares of the information services provider’s stock after buying an additional 2,401 shares during the period. Prosperity Consulting Group LLC’s holdings in Alphabet were worth $2,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. American Trust raised its stake in Alphabet by 15.7% during the third quarter. American Trust now owns 10,253 shares of the information services provider’s stock valued at $1,352,000 after buying an additional 1,395 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $4,899,000. Harbour Investments Inc. raised its position in shares of Alphabet by 23.9% during the 3rd quarter. Harbour Investments Inc. now owns 35,190 shares of the information services provider’s stock worth $4,640,000 after purchasing an additional 6,787 shares during the period. Panoramic Investment Advisors LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $5,313,000. Finally, Employees Retirement System of Texas raised its position in shares of Alphabet by 0.7% during the 3rd quarter. Employees Retirement System of Texas now owns 1,540,093 shares of the information services provider’s stock worth $203,061,000 after purchasing an additional 10,037 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Alphabet Stock Performance

GOOG traded up $4.57 during trading hours on Friday, hitting $191.96. The company’s stock had a trading volume of 14,303,361 shares, compared to its average volume of 15,944,221. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $192.26. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.37 trillion, a PE ratio of 29.44, a PEG ratio of 1.41 and a beta of 1.05. The company has a 50-day simple moving average of $176.95 and a 200 day simple moving average of $157.38.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is owned by corporate insiders.

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.