C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires 1,691 Shares of Alphabet Inc. $GOOGL

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 18.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,739 shares of the information services provider’s stock after purchasing an additional 1,691 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Alphabet were worth $1,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $39,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Wolfe Research reissued an “outperform” rating and set a $350.00 target price (up previously from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. CIBC lifted their price objective on Alphabet to $315.00 in a research report on Monday, October 20th. UBS Group restated a “neutral” rating and set a $306.00 target price (up previously from $255.00) on shares of Alphabet in a research report on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, Oppenheimer lifted their target price on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Alphabet Trading Down 2.8%

Shares of Alphabet stock opened at $278.57 on Friday. The stock has a market capitalization of $3.36 trillion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $292.01. The stock has a 50 day moving average price of $256.42 and a two-hundred day moving average price of $207.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 221,796 shares of company stock worth $53,983,001 over the last three months. 11.55% of the stock is currently owned by insiders.

About Alphabet

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.