Prospera Financial Services Inc Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Prospera Financial Services Inc lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,171 shares of the information services provider’s stock after acquiring an additional 444 shares during the quarter. Alphabet makes up 0.6% of Prospera Financial Services Inc’s investment portfolio, making the stock its 19th largest position. Prospera Financial Services Inc’s holdings in Alphabet were worth $14,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Financial Strategies Inc. grew its stake in shares of Alphabet by 1.3% in the fourth quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider’s stock worth $933,000 after acquiring an additional 4 shares during the last quarter. Palisades Hudson Asset Management L.P. grew its stake in shares of Alphabet by 1.1% in the fourth quarter. Palisades Hudson Asset Management L.P. now owns 361 shares of the information services provider’s stock worth $1,046,000 after acquiring an additional 4 shares during the last quarter. AFT Forsyth & Company Inc. grew its stake in shares of Alphabet by 0.3% in the fourth quarter. AFT Forsyth & Company Inc. now owns 1,183 shares of the information services provider’s stock worth $3,427,000 after acquiring an additional 4 shares during the last quarter. Bay Harbor Wealth Management LLC grew its stake in shares of Alphabet by 6.8% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 63 shares of the information services provider’s stock worth $175,000 after acquiring an additional 4 shares during the last quarter. Finally, Midwest Professional Planners LTD. grew its stake in shares of Alphabet by 2.3% in the fourth quarter. Midwest Professional Planners LTD. now owns 180 shares of the information services provider’s stock worth $521,000 after acquiring an additional 4 shares during the last quarter. Institutional investors own 41.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GOOGL shares. Wells Fargo & Company cut their target price on Alphabet from $170.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Itaú Unibanco began coverage on Alphabet in a report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price target on the stock. Truist Financial lowered their price target on Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Stifel Nicolaus set a $155.00 price target on Alphabet in a report on Monday, July 18th. Finally, MKM Partners lowered their price target on Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.36.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 847 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $114.33, for a total transaction of $96,837.51. Following the completion of the transaction, the chief accounting officer now owns 24,052 shares in the company, valued at approximately $2,749,865.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 31 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the sale, the director now directly owns 265 shares of the company’s stock, valued at approximately $604,459.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 847 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $114.33, for a total value of $96,837.51. Following the completion of the sale, the chief accounting officer now directly owns 24,052 shares of the company’s stock, valued at $2,749,865.16. The disclosure for this sale can be found here. Insiders sold 7,584 shares of company stock worth $11,646,684 in the last quarter. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $118.19 on Friday. The stock has a market capitalization of $1.56 trillion, a PE ratio of 21.99, a P/E/G ratio of 1.86 and a beta of 1.08. The business has a 50 day simple moving average of $155.17 and a two-hundred day simple moving average of $138.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. Alphabet Inc. has a 1-year low of $101.88 and a 1-year high of $151.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period in the previous year, the firm posted $27.26 EPS. On average, research analysts predict that Alphabet Inc. will post 5.22 EPS for the current fiscal year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.