Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Prism Advisors Inc.

Prism Advisors Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,814 shares of the information services provider’s stock after purchasing an additional 808 shares during the quarter. Prism Advisors Inc.’s holdings in Alphabet were worth $393,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Legacy Financial Strategies LLC raised its position in shares of Alphabet by 2.3% during the 4th quarter. Legacy Financial Strategies LLC now owns 4,665 shares of the information services provider’s stock valued at $652,000 after buying an additional 106 shares during the period. MCF Advisors LLC raised its position in Alphabet by 6.0% in the fourth quarter. MCF Advisors LLC now owns 18,846 shares of the information services provider’s stock valued at $2,633,000 after purchasing an additional 1,059 shares during the period. Capital Investment Advisory Services LLC lifted its stake in shares of Alphabet by 10.7% in the 4th quarter. Capital Investment Advisory Services LLC now owns 23,325 shares of the information services provider’s stock valued at $3,258,000 after purchasing an additional 2,255 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of Alphabet by 3.4% during the 4th quarter. OLD National Bancorp IN now owns 501,534 shares of the information services provider’s stock worth $70,059,000 after purchasing an additional 16,581 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of Alphabet by 0.3% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,391,272 shares of the information services provider’s stock worth $194,347,000 after purchasing an additional 3,701 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 3.4 %

Shares of NASDAQ GOOGL opened at $166.15 on Tuesday. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $148.36 and a 200 day moving average price of $141.62. Alphabet Inc. has a 52 week low of $103.71 and a 52 week high of $174.71. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the firm earned $1.17 EPS. Equities research analysts anticipate that Alphabet Inc. will post 6.82 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Raymond James increased their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Susquehanna increased their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday. UBS Group boosted their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial raised their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays boosted their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $189.44.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last three months, insiders sold 253,209 shares of company stock worth $36,711,144. 0.88% of the stock is owned by corporate insiders.

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.