Prosperitas Financial LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Prosperitas Financial LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,340 shares of the information services provider’s stock after purchasing an additional 5,014 shares during the quarter. Alphabet comprises 3.2% of Prosperitas Financial LLC’s holdings, making the stock its 13th largest position. Prosperitas Financial LLC’s holdings in Alphabet were worth $5,861,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Quarry LP acquired a new stake in shares of Alphabet in the second quarter worth approximately $53,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOGL opened at $172.49 on Friday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50 day simple moving average is $165.18 and its 200-day simple moving average is $170.08. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is 10.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Citigroup boosted their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.