Prosperity Consulting Group LLC sells 432 shares of Alphabet Inc. (NASDAQ:GOOG)

Prosperity Consulting Group LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,404 shares of the information services provider’s stock after selling 432 shares during the period. Prosperity Consulting Group LLC’s holdings in Alphabet were worth $3,009,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GOOG. JPMorgan Chase & Co. raised its position in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares in the last quarter. Swedbank AB purchased a new position in shares of Alphabet in the first quarter valued at $1,378,708,000. Capital International Investors boosted its holdings in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after acquiring an additional 2,190,795 shares during the period. Finally, Vima LLC grew its holdings in Alphabet by 178,253.1% in the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s shares.

The Wall Street analyst weighs in

Several equities research analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Get the latest stock analysis on GOOG

Alphabet stock 1.8%

Shares of GOOG stock opened at $158.37 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08. Alphabet Inc. it has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm has a market cap of $1.95 trillion, a PE ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. The stock’s 50-day simple moving average is $169.06 and its 200-day simple moving average is $166.35.

Alphabet (NASDAQ:GOOG – Get Your Free Report ) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. In the same quarter last year, the company posted earnings of $1.44 per share. The company’s revenue was up 13.6% compared to the same quarter last year. Equity analysts expect Alphabet Inc. to post 7.63 earnings per share for the current year.

Alphabetical announcement of dividends

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9. This represents an annualized dividend of $0.80 and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insiders place their bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,867 shares of company stock worth $34,218,581. Corporate insiders own 12.99% of the company’s shares.

Profile of the alphabet

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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