Prospera Financial Services Inc boosted its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,629 shares of the information services provider’s stock after buying an additional 2,094 shares during the quarter. Alphabet makes up about 1.3% of Prospera Financial Services Inc’s holdings, making the stock its 8th largest position. Prospera Financial Services Inc’s holdings in Alphabet were worth $78,032,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Imprint Wealth LLC purchased a new position in shares of Alphabet during the third quarter worth about $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet during the fourth quarter worth about $38,000. Towne Trust Company N.A grew its holdings in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares during the last quarter. Winnow Wealth LLC purchased a new position in shares of Alphabet during the third quarter worth about $63,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of Alphabet by 29.0% during the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock worth $63,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Berkshire Hathaway’s $10 billion commitment to Alphabet supports the company’s AI strategy and signals strong long-term investor confidence. Berkshire invests extra $10 billion in Alphabet, deepening bet on AI
- Positive Sentiment: Some analysts say Google remains a key beneficiary of AI search growth, suggesting its core search and ad business may hold up better than feared. Google Is the Clear Beneficiary,’ Says Top Analyst as AI Search Takes Off
- Neutral Sentiment: Alphabet’s stakes in private AI-related companies such as Anthropic and exposure to future IPO optionality may add long-term upside, but this is not a near-term catalyst. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs
- Negative Sentiment: The $80 billion stock sale raised concerns about dilution and the rising cost of Alphabet’s AI expansion, which is pressuring sentiment in the stock. Alphabet plans to raise $80 billion to pay for AI buildout
- Negative Sentiment: Reuters reported the EU may tighten cloud rules in strategic tenders, which could limit Google’s access to certain government contracts in Europe. EU cloud rules to curb Amazon, Google access to strategic tenders
Insider Buying and Selling at Alphabet
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Friday, March 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Finally, Truist Financial set a $430.00 target price on shares of Alphabet in a research note on Monday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $376.00.
View Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
Shares of NASDAQ:GOOG opened at $358.39 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.34 trillion, a P/E ratio of 27.34, a PEG ratio of 1.60 and a beta of 1.22. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $404.47. The company has a 50-day moving average price of $344.61 and a 200 day moving average price of $325.11.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the company posted $2.81 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is 6.41%.
Alphabet Profile
Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.
Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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