Alphabet Inc. $GOOGL Shares Purchased by Prasad Wealth Partners LLC

Key Points

• Prasad Wealth Partners LLC increased its stake in Alphabet Inc. by 21.3%, owning a total of 29,532 shares, valued at approximately $5.2 million.
• Alphabet's stock price has recently gained 2.3%, with a current market capitalization of $3.04 trillion and a P/E ratio of 26.73.
• The company reported a strong quarterly earnings performance, with an EPS of $2.31, surpassing estimates, and revenues of $96.43 billion.

Prasad Wealth Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,532 shares of the information services provider's stock after purchasing an additional 5,178 shares during the quarter. Alphabet accounts for 1.5% of Prasad Wealth Partners LLC's holdings, making the stock its 24th largest holding. Prasad Wealth Partners LLC's holdings in Alphabet were worth $5,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Nuveen LLC acquired a new position in Alphabet during the 1st quarter worth $4,317,606,000. Vanguard Group Inc. lifted its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Amundi lifted its holdings in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. lifted its holdings in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider's stock worth $619,163,000 after buying an additional 2,565,400 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 2.3%

GOOGL opened at $251.03 on Thursday. The business has a 50 day moving average price of $229.41 and a two-hundred day moving average price of $190.28. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.04 trillion, a PE ratio of 26.73, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 244,438 shares of company stock worth $53,216,085. Company insiders own 11.64% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Hsbc Global Res raised Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Wells Fargo & Company set a $236.00 price target on Alphabet and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Truist Financial lifted their price target on Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Susquehanna lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Wolfe Research lifted their price target on Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $249.26.

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.

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