Legacy Investment Solutions LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Legacy Investment Solutions LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 980 shares of the information services provider’s stock after purchasing an additional 118 shares during the period. Legacy Investment Solutions LLC’s holdings in Alphabet were worth $182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Truist Financial lowered their target price on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Mizuho dropped their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Rosenblatt Securities reduced their target price on shares of Alphabet from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Citigroup boosted their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, UBS Group set a $195.00 price objective on Alphabet in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,824 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock worth $30,153,353 over the last 90 days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $152.75 on Friday. The business’s 50-day moving average price is $158.93 and its 200 day moving average price is $175.10. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.85 trillion, a P/E ratio of 18.98, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the company earned $1.89 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

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.