Prospera Capital Management LLC Makes New Investment in Alphabet Inc. $GOOG

Prospera Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, HoldingsChannel reports. The fund bought 2,372 shares of the information services provider’s stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after purchasing an additional 5,182,111 shares during the period. State Street Corp boosted its holdings in shares of Alphabet by 1.3% during the 2nd quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock worth $33,511,477,000 after purchasing an additional 2,428,266 shares during the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Geode Capital Management LLC raised its stake in Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares during the period. Finally, Sanders Capital LLC lifted its holdings in Alphabet by 6.4% in the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after acquiring an additional 2,117,990 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the completion of the sale, the chief executive officer owned 2,272,119 shares in the company, valued at $725,942,020.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total value of $302,418.00. Following the sale, the chief accounting officer owned 11,740 shares in the company, valued at $3,721,580. The trade was a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 225,528 shares of company stock valued at $61,296,884 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.0%

GOOG opened at $310.52 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.80 and a beta of 1.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67. The business has a 50-day moving average of $283.75 and a two-hundred day moving average of $230.73.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. HSBC reissued a “buy” rating and issued a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a report on Thursday, October 30th. Morgan Stanley upped their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. BNP Paribas started coverage on Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating for the company. Finally, Sanford C. Bernstein boosted their price target on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $313.04.

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.