Legacy Capital Wealth Partners LLC Has $1.65 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Legacy Capital Wealth Partners LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,697 shares of the information services provider’s stock after buying an additional 393 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Alphabet were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Alphabet by 518.8% in 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 during the period. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp increased its holdings in Alphabet by 36.1% in the 4th 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 during the period. Finally, Denver PWM LLC raised its stake in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 2.6 %

GOOGL opened at $168.27 on Friday. The firm has a 50 day simple moving average of $191.00 and a 200 day simple moving average of $176.06. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. 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 current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,188 shares of company stock valued at $25,036,883. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Loop Capital lifted their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Stifel Nicolaus upped their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet 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.