C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $9.42 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 497.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,742 shares of the information services provider’s stock after purchasing an additional 41,418 shares during the quarter. Alphabet makes up 0.4% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 25th biggest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Alphabet were worth $9,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOOGL. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in 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 valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $39,000. Denver PWM LLC lifted its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the third quarter valued at approximately $66,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,299 shares of company stock worth $25,055,751 in the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $179.66 on Monday. The stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $192.46 and its 200 day simple moving average is $175.93. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 9.94%.

Analyst Ratings Changes

GOOGL has been the topic of several recent analyst reports. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.62.

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.