Prosperitas Financial LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Prosperitas Financial LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,367 shares of the information services provider’s stock after selling 113 shares during the quarter. Prosperitas Financial LLC’s holdings in Alphabet were worth $615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. First American Trust FSB boosted its position in shares of Alphabet by 235.6% during the 4th quarter. First American Trust FSB now owns 11,387 shares of the information services provider’s stock valued at $1,605,000 after acquiring an additional 7,994 shares during the last quarter. Hamilton Point Investment Advisors LLC boosted its position in shares of Alphabet by 2.0% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 90,204 shares of the information services provider’s stock valued at $12,713,000 after acquiring an additional 1,776 shares during the last quarter. Members Trust Co boosted its position in shares of Alphabet by 13.1% during the 4th quarter. Members Trust Co now owns 3,448 shares of the information services provider’s stock valued at $487,000 after acquiring an additional 400 shares during the last quarter. Flputnam Investment Management Co. boosted its position in shares of Alphabet by 20.4% during the 4th quarter. Flputnam Investment Management Co. now owns 129,688 shares of the information services provider’s stock valued at $18,277,000 after acquiring an additional 22,012 shares during the last quarter. Finally, Capital Analysts LLC boosted its position in shares of Alphabet by 3.8% during the 4th quarter. Capital Analysts LLC now owns 25,568 shares of the information services provider’s stock valued at $3,604,000 after acquiring an additional 928 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $156.88 on Thursday. The firm has a market cap of $1.95 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.44 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The stock’s fifty day moving average price is $147.15 and its 200-day moving average price is $141.61.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 over the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average target price of $159.86.

About Alphabet

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.