Legacy Advisors LLC Has $596,000 Holdings in Alphabet Inc (NASDAQ:GOOGL)

Legacy Advisors LLC cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 11.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 488 shares of the information services provider’s stock after selling 62 shares during the period. Legacy Advisors LLC’s holdings in Alphabet were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GOOGL. Thoroughbred Financial Services LLC lifted its position in Alphabet by 205,910.9% during the second quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after acquiring an additional 3,391,353 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Alphabet by 2,010.7% during the second quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock worth $2,397,786,000 after acquiring an additional 2,109,515 shares during the last quarter. Invesco Ltd. lifted its position in Alphabet by 37.1% during the second quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after acquiring an additional 1,285,824 shares during the last quarter. Packer & Co Ltd lifted its position in Alphabet by 4,018.6% during the second quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock worth $25,202,000 after acquiring an additional 935,325 shares during the last quarter. Finally, Veritas Asset Management LLP lifted its position in Alphabet by 52.9% during the second quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock worth $1,114,175,000 after acquiring an additional 355,900 shares during the last quarter. Hedge funds and other institutional investors own 33.50% of the company’s stock.

Several research analysts have recently commented on the stock. Susquehanna Bancshares raised their target price on shares of Alphabet to $1,550.00 in a report on Friday, July 26th. Macquarie set a $1,300.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $1,310.00 to $1,420.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Needham & Company LLC set a $1,350.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Nomura reaffirmed a “buy” rating and set a $1,400.00 target price (up from $1,300.00) on shares of Alphabet in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,375.78.

NASDAQ:GOOGL traded up $5.70 during mid-day trading on Thursday, reaching $1,208.10. The stock had a trading volume of 226,325 shares, compared to its average volume of 1,329,242. The stock has a 50-day simple moving average of $1,205.66 and a two-hundred day simple moving average of $1,174.05. The stock has a market capitalization of $839.33 billion, a PE ratio of 25.43, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Equities analysts expect that Alphabet Inc will post 51.29 EPS for the current year.

Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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