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Legacy Financial Group Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.6% in the 1st quarter, HoldingsChannel reports. The firm owned 5,012 shares of the information services provider’s stock after selling 597 shares during the period. Legacy Financial Group Inc.’s holdings in Alphabet were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Eagle Capital Management LLC lifted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE increased its position in shares of Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after purchasing an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC increased its position in shares of Alphabet by 22.7% in the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock worth $13,873,000 after purchasing an additional 13,564 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Price Performance
Shares of GOOGL opened at $185.06 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business’s 50 day moving average price is $172.90 and its two-hundred day moving average price is $172.89. The firm has a market cap of $2.25 trillion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 9.36%.
Insider Buying and Selling at Alphabet
In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,843 shares of company stock valued at $37,288,490. 11.55% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages recently commented on GOOGL. UBS Group raised their price target on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a research report on Wednesday, May 21st. Sanford C. Bernstein lifted their target price on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Susquehanna decreased their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. Finally, Bank of America lifted their target price on Alphabet from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.68.
Check Out Our Latest Stock Report on Alphabet
About Alphabet
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.
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