Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 57.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 9,430 shares of the information services provider’s stock after buying an additional 3,439 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Alphabet were worth $1,436,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Woodward Diversified Capital LLC lifted its position in shares of Alphabet by 0.7% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after buying an additional 62 shares during the last quarter. Intergy Private Wealth LLC lifted its position in shares of Alphabet by 1.9% during the 1st quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after buying an additional 63 shares during the last quarter. Smith Anglin Financial LLC lifted its position in shares of Alphabet by 2.0% during the 1st quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after buying an additional 64 shares during the last quarter. Fiduciary Alliance LLC lifted its position in shares of Alphabet by 1.4% during the 1st quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after buying an additional 67 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of Alphabet by 0.8% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after buying an additional 68 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOG. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $174.38.

Alphabet Trading Up 1.2 %

Shares of GOOG stock traded up $2.25 on Wednesday, hitting $192.69. The company had a trading volume of 8,007,889 shares, compared to its average volume of 20,758,002. The firm has a market cap of $2.38 trillion, a P/E ratio of 29.59, a P/E/G ratio of 1.43 and a beta of 1.05. The stock’s 50-day moving average is $177.92 and its two-hundred day moving average is $158.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 146,288 shares of company stock valued at $25,345,053 over the last 90 days. Company insiders own 12.99% of the company’s stock.

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.