Alphabet Inc. $GOOGL Shares Acquired by Prospera Financial Services Inc

Prospera Financial Services Inc boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 286,930 shares of the information services provider’s stock after purchasing an additional 37,971 shares during the period. Alphabet makes up 1.5% of Prospera Financial Services Inc’s investment portfolio, making the stock its 6th largest holding. Prospera Financial Services Inc’s holdings in Alphabet were worth $89,832,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new position in Alphabet in the 3rd quarter valued at $416,217,000. NewEdge Wealth LLC raised its position in Alphabet by 11.8% during the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock worth $277,696,000 after buying an additional 93,293 shares during the last quarter. Sovran Advisors LLC lifted its stake in shares of Alphabet by 23.6% in the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock worth $5,401,000 after acquiring an additional 4,241 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Alphabet by 5.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider’s stock worth $17,652,000 after acquiring an additional 3,740 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Alphabet by 3.8% in the third quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider’s stock valued at $405,131,000 after acquiring an additional 60,831 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director directly owned 18,721 shares in the company, valued at approximately $7,132,701. The trade was a 0.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 193,016 shares of company stock worth $17,282,549 in the last quarter. Insiders own 11.61% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $368.53 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $352.70 and a two-hundred day moving average price of $327.81. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The company has a market capitalization of $4.47 trillion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. As a group, research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is currently 6.41%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOGL. Dbs Bank boosted their price target on shares of Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Loop Capital lifted their price objective on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a report on Friday, May 15th. Phillip Securities boosted their target price on Alphabet from $340.00 to $395.00 and gave the stock a “moderate buy” rating in a research report on Wednesday, April 15th. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Friday, May 29th. Finally, Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.