Prospera Financial Services Inc Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Prospera Financial Services Inc raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,462 shares of the information services provider’s stock after purchasing an additional 228 shares during the quarter. Prospera Financial Services Inc’s holdings in Alphabet were worth $8,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Resonant Capital Advisors LLC boosted its stake in Alphabet by 1.5% during the 2nd quarter. Resonant Capital Advisors LLC now owns 269 shares of the information services provider’s stock valued at $657,000 after purchasing an additional 4 shares in the last quarter. Allied Investment Advisors LLC lifted its holdings in shares of Alphabet by 3.5% in the second quarter. Allied Investment Advisors LLC now owns 119 shares of the information services provider’s stock valued at $291,000 after purchasing an additional 4 shares in the last quarter. Capital Investment Counsel Inc lifted its holdings in shares of Alphabet by 0.3% in the second quarter. Capital Investment Counsel Inc now owns 1,381 shares of the information services provider’s stock valued at $3,372,000 after purchasing an additional 4 shares in the last quarter. New Potomac Partners LLC lifted its holdings in shares of Alphabet by 2.3% in the second quarter. New Potomac Partners LLC now owns 176 shares of the information services provider’s stock valued at $430,000 after purchasing an additional 4 shares in the last quarter. Finally, Atlas Private Wealth Advisors raised its holdings in shares of Alphabet by 2.9% during the second quarter. Atlas Private Wealth Advisors now owns 144 shares of the information services provider’s stock worth $352,000 after acquiring an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 34.43% of the company’s stock.

A number of research analysts have commented on the stock. Susquehanna Bancshares raised their price target on shares of Alphabet from $3,100.00 to $3,600.00 and gave the stock a “positive” rating in a research note on Wednesday, July 28th. KeyCorp boosted their price objective on shares of Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Credit Suisse Group upped their price target on shares of Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Morgan Stanley increased their target price on shares of Alphabet from $2,575.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Finally, MKM Partners increased their price target on shares of Alphabet from $2,500.00 to $3,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $2,846.21.

GOOGL stock opened at $2,823.63 on Monday. Alphabet Inc. has a 52-week low of $1,407.68 and a 52-week high of $2,925.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. The company has a fifty day moving average price of $2,768.01 and a 200-day moving average price of $2,472.12. The company has a market capitalization of $1.88 trillion, a P/E ratio of 30.60, a PEG ratio of 1.83 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, beating analysts’ consensus estimates of $19.89 by $7.37. The company had revenue of $50.95 billion for the quarter, compared to analyst estimates of $46.07 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. During the same period last year, the firm earned $10.13 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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