Prospera Private Wealth LLC Purchases Shares of 27,028 Alphabet Inc. (NASDAQ:GOOG)

Prospera Private Wealth LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,028 shares of the information services provider's stock, valued at approximately $4,519,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 360.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider's stock valued at $3,083,000 after purchasing an additional 15,848 shares during the period. Quent Capital LLC increased its holdings in Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider's stock worth $4,980,000 after buying an additional 1,798 shares during the period. Empowered Funds LLC raised its position in Alphabet by 19.0% during the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider's stock worth $13,100,000 after buying an additional 13,756 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $203,000. Finally, CreativeOne Wealth LLC boosted its holdings in shares of Alphabet by 41.0% in the 1st quarter. CreativeOne Wealth LLC now owns 16,530 shares of the information services provider's stock valued at $2,516,000 after acquiring an additional 4,809 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 1.7 %

Shares of GOOG stock traded down $3.07 during trading on Wednesday, hitting $176.51. 5,394,426 shares of the stock traded hands, compared to its average volume of 19,497,586. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The firm's fifty day moving average price is $168.15 and its 200-day moving average price is $171.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's payout ratio is currently 10.61%.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company's stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,295 shares of company stock valued at $30,698,791. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a "hold" rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Pivotal Research increased their target price on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Oppenheimer lifted their price target on Alphabet from $185.00 to $215.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $200.56.

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.