Prosperity Consulting Group LLC Has $1.88 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on May 14th, 2023

Prosperity Consulting Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,298 shares of the information services provider’s stock after selling 424 shares during the period. Alphabet makes up 1.3% of Prosperity Consulting Group LLC’s holdings, making the stock its 21st biggest position. Prosperity Consulting Group LLC’s holdings in Alphabet were worth $1,879,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GOOGL. VitalStone Financial LLC bought a new position in Alphabet in the 4th quarter valued at about $25,000. IAG Wealth Partners LLC increased its stake in Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 262 shares during the last quarter. Laurel Wealth Planning LLC raised its position in Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Coston McIsaac & Partners lifted its stake in Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $33,000. Institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. Robert W. Baird lifted their price target on Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein lowered their price objective on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 20th. Truist Financial upped their price objective on shares of Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Wells Fargo & Company upped their price objective on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, Oppenheimer upped their price objective on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.06.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of Alphabet stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $14.03, for a total value of $1,226,179.91. Following the completion of the transaction, the insider now directly owns 11,012,841 shares in the company, valued at $154,510,159.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 732,217 shares of company stock worth $21,135,371 and have sold 326,208 shares worth $16,803,119. 11.44% of the stock is owned by company insiders.

Alphabet Trading Up 0.8 %

NASDAQ GOOGL opened at $117.51 on Friday. The stock has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The business’s fifty day moving average is $103.71 and its 200-day moving average is $97.24.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.39 EPS for the current year.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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