Alphabet Inc. (NASDAQ:GOOGL) is Prosperity Financial Group Inc.'s 10th Largest Position

Prosperity Financial Group Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,346 shares of the information services provider's stock after purchasing an additional 1,675 shares during the quarter. Alphabet comprises about 1.8% of Prosperity Financial Group Inc.'s investment portfolio, making the stock its 10th largest position. Prosperity Financial Group Inc.'s holdings in Alphabet were worth $3,662,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter worth $30,000. LMR Partners LLP bought a new stake in Alphabet during the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter valued at about $39,000. Finally, PayPay Securities Corp lifted its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $5.50 during midday trading on Wednesday, hitting $165.06. The company's stock had a trading volume of 28,889,147 shares, compared to its average volume of 25,905,073. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $181.11 and a 200 day moving average price of $176.78.

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Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson upped their price objective on Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 13th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, KeyCorp cut their price target on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $210.59.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 1,368 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares of the company's stock, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by corporate insiders.

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.