Prostatis Group LLC Has $161,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jun 18th, 2023

Prostatis Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,857 shares of the information services provider’s stock after selling 1,148 shares during the period. Prostatis Group LLC’s holdings in Alphabet were worth $161,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. ETF Managers Group LLC raised its holdings in Alphabet by 7.1% during the fourth quarter. ETF Managers Group LLC now owns 4,704 shares of the information services provider’s stock valued at $417,000 after buying an additional 312 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Alphabet by 0.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 234,303 shares of the information services provider’s stock valued at $20,790,000 after buying an additional 1,697 shares in the last quarter. AWM Capital LLC raised its holdings in Alphabet by 3.2% during the fourth quarter. AWM Capital LLC now owns 8,736 shares of the information services provider’s stock valued at $775,000 after buying an additional 273 shares in the last quarter. Claro Advisors LLC raised its holdings in Alphabet by 2,034.5% during the fourth quarter. Claro Advisors LLC now owns 23,757 shares of the information services provider’s stock valued at $2,108,000 after buying an additional 22,644 shares in the last quarter. Finally, Flagstone Financial Management bought a new position in Alphabet during the fourth quarter valued at about $292,000. Institutional investors and hedge funds own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James raised their target price on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Oppenheimer dropped their price objective on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. UBS Group lifted their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Finally, Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.80.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Insiders sold 833,427 shares of company stock worth $29,709,706 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.4 %

Shares of GOOG opened at $124.06 on Friday. The company has a market capitalization of $1.58 trillion, a P/E ratio of 27.63, a PEG ratio of 1.60 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a one year low of $83.45 and a one year high of $129.55. The business’s 50 day simple moving average is $115.72 and its 200-day simple moving average is $102.94.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping 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 $68.80 billion. During the same period in the previous year, the business earned $1.23 EPS. Alphabet’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

About Alphabet

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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.