Prasad Wealth Partners LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Prasad Wealth Partners LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel.com reports. The fund bought 4,227 shares of the information services provider’s stock, valued at approximately $805,000.

A number of other institutional investors have also modified their holdings of the stock. M&G PLC bought a new position in Alphabet during the third quarter worth $2,240,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Finally, Requisite Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $927,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,188 shares of company stock worth $25,036,883. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $170.21 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $192.59 and its 200 day moving average price is $177.59. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The firm has a market cap of $2.07 trillion, a P/E ratio of 21.14, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOG. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

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.