C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,659 shares of the information services provider’s stock after acquiring an additional 76 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Alphabet were worth $1,459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Swedbank AB increased its position in Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares during the period. Iron Horse Wealth Management LLC increased its holdings in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares during the period. Wallington Asset Management LLC increased its holdings in shares of Alphabet by 5.5% in the third quarter. Wallington Asset Management LLC now owns 83,004 shares of the information services provider’s stock valued at $13,877,000 after purchasing an additional 4,312 shares during the period. McAdam LLC increased its holdings in shares of Alphabet by 10.1% in the third quarter. McAdam LLC now owns 8,785 shares of the information services provider’s stock valued at $1,469,000 after purchasing an additional 807 shares during the period. Finally, Capital Investment Counsel Inc increased its holdings in shares of Alphabet by 6.2% in the third quarter. Capital Investment Counsel Inc now owns 111,826 shares of the information services provider’s stock valued at $18,696,000 after purchasing an additional 6,549 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOOG shares. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Buying and Selling

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,299 shares of company stock valued at $25,055,751. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $181.58 on Friday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The stock has a market cap of $2.21 trillion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The business has a fifty day moving average of $194.02 and a 200-day moving average of $177.22. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Alphabet Company 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.