Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,480 shares of the information services provider’s stock after buying an additional 107 shares during the quarter. Alphabet comprises 0.7% of Prosperity Wealth Management Inc.’s portfolio, making the stock its 25th largest position. Prosperity Wealth Management Inc.’s holdings in Alphabet were worth $1,605,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of GOOGL. Compass Planning Associates Inc acquired a new position in Alphabet in the 4th quarter worth $30,000. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter valued at about $39,000. Finally, PayPay Securities Corp grew its stake in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $163.99 on Monday. The firm has a market capitalization of $2.00 trillion, a PE ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. 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 firm has a 50-day moving average price of $182.57 and a 200 day moving average price of $176.65. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup decreased their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet 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.