Prosperity Wealth Management Inc. Has $688,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Prosperity Wealth Management Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,258 shares of the information services provider’s stock after purchasing an additional 445 shares during the period. Prosperity Wealth Management Inc.’s holdings in Alphabet were worth $688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DC Investments Management LLC acquired a new position in Alphabet during the first quarter worth approximately $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the first quarter worth approximately $225,000. Worth Asset Management LLC acquired a new position in Alphabet during the first quarter worth approximately $206,000. Eudaimonia Advisors LLC boosted its holdings in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet during the first quarter worth approximately $281,000. Institutional investors and hedge funds own 35.08% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $147.53 on Tuesday. Alphabet Inc. has a 1 year low of $88.57 and a 1 year high of $153.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business has a fifty day simple moving average of $141.08 and a two-hundred day simple moving average of $135.89. The company has a market capitalization of $1.85 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.38 and a beta of 1.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter last year, the company earned $1.05 earnings per share. On average, analysts expect that Alphabet Inc. will post 6.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Barclays reduced their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Piper Sandler boosted their price target on Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. KeyCorp boosted their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Tigress Financial boosted their price target on Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 21st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.65.

Read Our Latest Analysis on Alphabet

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 420 shares of Alphabet stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $133.32, for a total transaction of $55,994.40. Following the completion of the sale, the chief accounting officer now directly owns 26,833 shares in the company, valued at $3,577,375.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $133.97, for a total transaction of $26,794.00. Following the transaction, the director now directly owns 6,984 shares of the company’s stock, valued at approximately $935,646.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 420 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $133.32, for a total transaction of $55,994.40. Following the transaction, the chief accounting officer now directly owns 26,833 shares in the company, valued at $3,577,375.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,974 shares of company stock valued at $19,427,217. Corporate insiders own 0.88% of the company’s stock.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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