Alphabet Inc. $GOOG Shares Bought by Prospect Financial Services LLC

Prospect Financial Services LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 39,199 shares of the information services provider’s stock after acquiring an additional 316 shares during the period. Alphabet comprises 4.1% of Prospect Financial Services LLC’s holdings, making the stock its 4th largest holding. Prospect Financial Services LLC’s holdings in Alphabet were worth $6,953,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. IFS Advisors LLC boosted its stake in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley increased its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the period. Fairman Group LLC lifted its position in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.8%

Shares of NASDAQ:GOOG opened at $276.98 on Friday. The firm has a market capitalization of $3.34 trillion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $292.36. The firm has a fifty day moving average of $257.84 and a 200 day moving average of $209.48.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on GOOG. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Morgan Stanley increased their price objective on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet 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.