Prospera Financial Services Inc decreased its position in Alphabet Inc (NASDAQ:GOOG) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,305 shares of the information services provider’s stock after selling 319 shares during the quarter. Prospera Financial Services Inc’s holdings in Alphabet were worth $1,388,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of GOOG. Vanguard Group Inc. grew its position in shares of Alphabet by 3.0% during the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after buying an additional 589,654 shares in the last quarter. BlackRock Inc. grew its position in shares of Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after buying an additional 826,480 shares in the last quarter. FMR LLC grew its position in shares of Alphabet by 0.4% during the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after buying an additional 62,507 shares in the last quarter. Capital World Investors grew its position in shares of Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Alphabet by 3.2% during the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after buying an additional 155,151 shares in the last quarter. 34.84% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price target for the company in a research report on Monday. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, February 27th. TheStreet downgraded shares of Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target for the company. in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $1,073.56.
Shares of Alphabet stock opened at $1,090.88 on Thursday. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $762,670.25, a price-to-earnings ratio of 60.74 and a beta of 1.04. Alphabet Inc has a one year low of $803.37 and a one year high of $1,186.89.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The company had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.36 earnings per share.
Alphabet declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $1,092.73, for a total transaction of $4,370,920.00. Following the transaction, the chief executive officer now directly owns 628 shares of the company’s stock, valued at $686,234.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David C. Drummond sold 5,690 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $1,164.43, for a total value of $6,625,606.70. Following the transaction, the senior vice president now directly owns 2,897 shares in the company, valued at $3,373,353.71. The disclosure for this sale can be found here. Insiders sold 48,709 shares of company stock worth $53,035,301 over the last quarter. 13.92% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: “Prospera Financial Services Inc Sells 319 Shares of Alphabet Inc (GOOG)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/03/22/prospera-financial-services-inc-sells-319-shares-of-alphabet-inc-goog.html.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.