Prosperity Wealth Management Inc. Has $546,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Prosperity Wealth Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 25.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,912 shares of the information services provider’s stock after selling 1,346 shares during the period. Prosperity Wealth Management Inc.’s holdings in Alphabet were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Meritage Group LP raised its position in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC raised its holdings in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares during the last quarter. Armor Investment Advisors LLC lifted its stake in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $55,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of Alphabet by 301.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after acquiring an additional 392 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOGL. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Barclays dropped their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Wolfe Research raised their price target on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, KeyCorp upped their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $158.71.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $159.13 on Thursday. The firm has a market cap of $1.98 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.44 and a beta of 1.05. The firm’s fifty day moving average is $146.96 and its 200 day moving average is $141.06. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period last year, the firm earned $1.05 earnings per share. Research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

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.