Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,583 shares of the information services provider’s stock after buying an additional 586 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Alphabet were worth $1,268,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the 2nd quarter valued at approximately $40,000. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 1.6 %

Shares of GOOG opened at $163.06 on Thursday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $163.27 and a two-hundred day simple moving average of $169.12. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business earned $1.44 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Pivotal Research began coverage on shares of Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective on the stock. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. UBS Group lowered their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $184.11.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,592 shares of company stock worth $35,922,911. Company insiders own 12.99% of the company’s stock.

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.