Prospect Financial Group LLC Invests $350,000 in Alphabet Inc. (NASDAQ:GOOG)

Prospect Financial Group LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,839 shares of the information services provider’s stock, valued at approximately $350,000.

Other institutional investors have also recently modified their holdings of the company. Weiss Asset Management LP acquired a new position in Alphabet in the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at $33,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 in the last three months. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Oppenheimer increased their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Up 2.2 %

NASDAQ:GOOG opened at $169.93 on Tuesday. 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 Inc. has a 12-month low of $148.20 and a 12-month high of $208.70. The stock’s fifty day simple moving average is $183.93 and its 200-day simple moving average is $178.30. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 21.11, a P/E/G ratio of 1.34 and a beta of 1.03.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.