24,576 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Prasad Wealth Partners LLC

Prasad Wealth Partners LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,576 shares of the information services provider’s stock, valued at approximately $4,652,000. Alphabet makes up about 1.5% of Prasad Wealth Partners LLC’s investment portfolio, making the stock its 22nd largest position.

Other hedge funds also recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $30,000. LMR Partners LLP bought a new position in Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter worth $39,000. Finally, PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.9 %

Shares of NASDAQ:GOOGL opened at $173.86 on Monday. Alphabet Inc. has a 12-month low of $134.00 and a 12-month high of $207.05. The business has a 50 day moving average of $188.21 and a 200-day moving average of $176.54. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.12 trillion, a PE ratio of 21.60, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. JPMorgan Chase & Co. lowered their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DA Davidson increased their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wells Fargo & Company upped their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.62.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. The trade was a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is currently owned by company insiders.

Alphabet Profile

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.