Prosperity Consulting Group LLC Sells 2,290 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Prosperity Consulting Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,205 shares of the information services provider's stock after selling 2,290 shares during the period. Prosperity Consulting Group LLC's holdings in Alphabet were worth $9,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Eagle Capital Management LLC raised its stake in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares during the period. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE raised its stake in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC raised its stake in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $195.04 on Tuesday. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a fifty day moving average of $178.85 and a 200 day moving average of $172.81. 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 (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 249,399 shares of company stock valued at $43,525,794. Company insiders own 11.55% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOGL. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald upped their price target on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Guggenheim upped their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley upped their price target on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $211.39.

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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