Prospect Financial Services LLC Buys Shares of 23,594 Alphabet Inc. (NASDAQ:GOOGL)

Prospect Financial Services LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,594 shares of the information services provider's stock, valued at approximately $3,296,000. Alphabet accounts for 3.3% of Prospect Financial Services LLC's holdings, making the stock its 9th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Norges Bank bought a new position in Alphabet in the fourth quarter worth approximately $15,441,917,000. FMR LLC increased its position in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider's stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider's stock worth $841,725,000 after purchasing an additional 6,010,548 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider's stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Alphabet during the third quarter worth $634,465,000. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOGL. Jefferies Financial Group boosted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 26th. Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 26th. Morgan Stanley reaffirmed an "overweight" rating and issued a $195.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Mizuho upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 26th. Finally, KeyCorp increased their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.26.

Alphabet Stock Up 0.9 %

Shares of GOOGL traded up $1.63 during midday trading on Friday, reaching $176.79. The stock had a trading volume of 18,052,069 shares, compared to its average volume of 29,007,271. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $180.41. The company's fifty day simple moving average is $168.08 and its two-hundred day simple moving average is $150.90. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the business earned $1.17 EPS. Equities research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company's stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company's stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares in the company, valued at $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold 158,958 shares of company stock worth $25,805,853 in the last ninety days. 11.55% of the stock is owned by corporate insiders.

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.

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