Prasad Wealth Partners LLC Acquires New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Prasad Wealth Partners LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,576 shares of the information services provider’s stock, valued at approximately $4,652,000. Alphabet comprises about 1.5% of Prasad Wealth Partners LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BankPlus Trust Department acquired a new stake in shares of Alphabet in the 4th quarter valued at $675,000. Quartz Partners LLC lifted its position in shares of Alphabet by 7.4% in the fourth quarter. Quartz Partners LLC now owns 14,811 shares of the information services provider’s stock worth $2,804,000 after buying an additional 1,023 shares during the last quarter. Holistic Financial Partners lifted its position in shares of Alphabet by 2.0% in the fourth quarter. Holistic Financial Partners now owns 3,641 shares of the information services provider’s stock worth $689,000 after buying an additional 73 shares during the last quarter. Wealthstream Advisors Inc. boosted its stake in shares of Alphabet by 17.5% during the 4th quarter. Wealthstream Advisors Inc. now owns 12,422 shares of the information services provider’s stock worth $2,352,000 after acquiring an additional 1,854 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of Alphabet by 1.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 772,948 shares of the information services provider’s stock valued at $146,319,000 after acquiring an additional 12,775 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup cut their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Bank of America reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Ten 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 stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,316 shares of company stock valued at $25,062,887. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.9 %

GOOGL stock opened at $173.86 on Monday. The business has a fifty day moving average price of $188.21 and a 200 day moving average price of $176.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a fifty-two week low of $134.00 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 1.34 and a beta of 1.02.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.