Legacy Solutions LLC Acquires New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Legacy Solutions LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,993 shares of the information services provider’s stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. TFG Advisers LLC raised its stake in shares of Alphabet by 3.2% during the 3rd quarter. TFG Advisers LLC now owns 23,569 shares of the information services provider’s stock valued at $3,909,000 after purchasing an additional 740 shares during the period. Altus Wealth Group LLC increased its stake in Alphabet by 1.9% in the 3rd quarter. Altus Wealth Group LLC now owns 13,736 shares of the information services provider’s stock worth $2,278,000 after acquiring an additional 254 shares during the last quarter. Litman Gregory Wealth Management LLC increased its stake in Alphabet by 4.9% in the 3rd quarter. Litman Gregory Wealth Management LLC now owns 62,783 shares of the information services provider’s stock worth $10,413,000 after acquiring an additional 2,930 shares during the last quarter. Sterling Investment Counsel LLC increased its stake in Alphabet by 5.4% in the 3rd quarter. Sterling Investment Counsel LLC now owns 33,002 shares of the information services provider’s stock worth $5,473,000 after acquiring an additional 1,703 shares during the last quarter. Finally, Detalus Advisors LLC increased its stake in Alphabet by 4.5% in the 3rd quarter. Detalus Advisors LLC now owns 10,811 shares of the information services provider’s stock worth $1,793,000 after acquiring an additional 464 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,316 shares of company stock worth $25,062,887. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. KeyCorp upped their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Cantor Fitzgerald decreased their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Trading Down 1.9 %

NASDAQ GOOGL opened at $167.01 on Tuesday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day simple moving average of $190.02 and a two-hundred day simple moving average of $176.35. The stock has a market cap of $2.04 trillion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.