Legacy Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,908 shares of the information services provider's stock after selling 2,104 shares during the quarter. Alphabet accounts for approximately 0.7% of Legacy Advisors LLC's holdings, making the stock its 27th biggest holding. Legacy Advisors LLC's holdings in Alphabet were worth $6,475,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GOOG. ARQ Wealth Advisors LLC boosted its stake in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky lifted its stake in Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the last quarter. Harvest Investment Services LLC grew its stake in shares of Alphabet by 3.3% during the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares during the last quarter. North Forty Two & Co. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $281,000. Finally, Fermata Advisors LLC boosted its holdings in Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after acquiring an additional 259 shares during the period. Institutional investors own 27.26% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on GOOG shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. KeyCorp decreased their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $204.88.
Read Our Latest Stock Analysis on GOOG
Alphabet Stock Up 2.2%
Shares of GOOG stock traded up $3.75 during mid-day trading on Wednesday, hitting $171.49. 22,980,073 shares of the stock traded hands, compared to its average volume of 20,688,981. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The stock has a market cap of $2.08 trillion, a P/E ratio of 19.12, a P/E/G ratio of 1.17 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock's fifty day moving average is $166.58 and its two-hundred day moving average is $176.27.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 EPS. Alphabet's revenue was up 12.0% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Profile
(
Free Report)
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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