Prosperity Consulting Group LLC Purchases 1,557 Shares of Alphabet Inc. (NASDAQ:GOOG)

Prosperity Consulting Group LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,591 shares of the information services provider’s stock after acquiring an additional 1,557 shares during the period. Prosperity Consulting Group LLC’s holdings in Alphabet were worth $6,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock worth $96,465,000 after purchasing an additional 20,855 shares during the period. Schroder Investment Management Group grew its holdings in Alphabet by 13.1% in the fourth quarter. Schroder Investment Management Group now owns 2,607,560 shares of the information services provider’s stock worth $496,584,000 after purchasing an additional 302,288 shares during the period. Portland Global Advisors LLC grew its holdings in Alphabet by 2.1% in the fourth quarter. Portland Global Advisors LLC now owns 4,189 shares of the information services provider’s stock worth $798,000 after purchasing an additional 86 shares during the period. Finally, RWA Wealth Partners LLC grew its holdings in Alphabet by 2.8% in the fourth quarter. RWA Wealth Partners LLC now owns 161,558 shares of the information services provider’s stock worth $30,767,000 after purchasing an additional 4,443 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research raised their price target on shares of Alphabet from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.19.

Alphabet Price Performance

GOOG opened at $194.08 on Monday. The company has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.31 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $176.86 and a 200-day moving average price of $174.38. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is currently 8.95%.

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.