C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 19.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,326 shares of the information services provider’s stock after purchasing an additional 537 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Alphabet were worth $345,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Live Oak Investment Partners bought a new stake in shares of Alphabet during the 4th quarter worth $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the fourth quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the third quarter valued at about $38,000. IAG Wealth Partners LLC increased its position in shares of Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 200 shares during the period. Finally, AM Squared Ltd purchased a new position in shares of Alphabet during the fourth quarter valued at about $44,000. 35.38% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on GOOGL shares. TD Cowen boosted their price target on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Morgan Stanley upped their target price on shares of Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Alphabet in a research report on Friday. Jefferies Financial Group lifted their price target on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Finally, Barclays raised their price objective on shares of Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
Alphabet Stock Down 0.1 %
GOOGL stock opened at $129.56 on Monday. The firm’s fifty day simple moving average is $123.95 and its 200-day simple moving average is $111.38. The company has a market capitalization of $1.63 trillion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $133.74.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 5.67 earnings per share for the current year.
Insider Buying and Selling
In related news, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $12.77, for a total transaction of $191,550.00. Following the sale, the insider now directly owns 10,735,324 shares of the company’s stock, valued at $137,090,087.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $12.77, for a total transaction of $191,550.00. Following the completion of the transaction, the insider now directly owns 10,735,324 shares in the company, valued at $137,090,087.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the transaction, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 430,790 shares of company stock valued at $20,443,054. Corporate insiders own 0.88% of the company’s stock.
About Alphabet
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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