My Legacy Advisors LLC Boosts Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• My Legacy Advisors LLC increased its stake in Alphabet Inc. by 6.2% in the second quarter, holding a total of 22,216 shares valued at approximately $3.95 million.
• Alphabet reported earnings per share of $2.31 for the last quarter, exceeding analyst expectations, along with a revenue of $96.43 billion.
• Insider trading showed significant activity, with CEO Sundar Pichai selling 32,500 shares for over $8 million, resulting in a 1.34% decrease in his ownership.

My Legacy Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,216 shares of the information services provider's stock after acquiring an additional 1,304 shares during the period. Alphabet accounts for 1.4% of My Legacy Advisors LLC's portfolio, making the stock its 15th largest holding. My Legacy Advisors LLC's holdings in Alphabet were worth $3,946,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mystic Asset Management Inc. lifted its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares during the last quarter. Cypress Capital LLC lifted its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after acquiring an additional 84 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.9%

NASDAQ:GOOGL opened at $252.53 on Tuesday. The company has a market cap of $3.05 trillion, a PE ratio of 26.89, a P/E/G ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $210.78 and its two-hundred day moving average is $180.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock worth $52,405,304 in the last 90 days. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Susquehanna raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Wells Fargo & Company lifted their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Needham & Company LLC lifted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Wedbush lifted their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $231.31.

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.

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