Prossimo Advisors LLC Has $4.81 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Prossimo Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 28,978 shares of the information services provider’s stock after acquiring an additional 740 shares during the period. Alphabet accounts for approximately 3.5% of Prossimo Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Prossimo Advisors LLC’s holdings in Alphabet were worth $4,806,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Alphabet during the second quarter valued at about $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter valued at about $41,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Alphabet during the second quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Mizuho upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Down 1.8 %

NASDAQ GOOGL opened at $172.49 on Friday. The business has a fifty day moving average price of $165.18 and a 200 day moving average price of $170.08. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the company earned $1.55 EPS. Research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company 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.