Legacy Financial Strategies LLC Has $1.28 Million Stock Position in Alphabet Inc. $GOOGL

Legacy Financial Strategies LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,288 shares of the information services provider’s stock after purchasing an additional 849 shares during the period. Legacy Financial Strategies LLC’s holdings in Alphabet were worth $1,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC raised its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Forum Financial Management LP raised its holdings in Alphabet by 6.4% in the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock valued at $14,985,000 after acquiring an additional 4,756 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $464,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $89,168,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent research reports. Sanford C. Bernstein increased their target price on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a report on Sunday. Wells Fargo & Company increased their target price on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Susquehanna increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Finally, Canaccord Genuity Group increased their target price on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.54.

Alphabet Stock Up 1.1%

NASDAQ GOOGL opened at $254.72 on Friday. The firm has a market cap of $3.08 trillion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The stock’s 50 day simple moving average is $209.36 and its 200 day simple moving average is $180.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $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 a total of 258,088 shares of company stock valued at $52,405,304 over the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

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.