Alphabet Inc. $GOOG Shares Sold by Legacy Financial Group Inc.

Legacy Financial Group Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,863 shares of the information services provider’s stock after selling 896 shares during the period. Legacy Financial Group Inc.’s holdings in Alphabet were worth $1,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Centric Wealth Management lifted its holdings in shares of Alphabet by 1.5% during the 2nd quarter. Centric Wealth Management now owns 9,443 shares of the information services provider’s stock valued at $1,675,000 after acquiring an additional 141 shares in the last quarter. Patrick Mauro Investment Advisor INC. increased its holdings in Alphabet by 17.6% in the 2nd quarter. Patrick Mauro Investment Advisor INC. now owns 8,429 shares of the information services provider’s stock valued at $1,495,000 after purchasing an additional 1,264 shares in the last quarter. Titleist Asset Management LLC raised its position in Alphabet by 19.1% in the second quarter. Titleist Asset Management LLC now owns 33,492 shares of the information services provider’s stock valued at $5,941,000 after purchasing an additional 5,382 shares during the period. Barings LLC lifted its stake in shares of Alphabet by 2.0% during the second quarter. Barings LLC now owns 3,215 shares of the information services provider’s stock worth $570,000 after purchasing an additional 64 shares in the last quarter. Finally, Vestor Capital LLC lifted its stake in shares of Alphabet by 591.3% during the second quarter. Vestor Capital LLC now owns 912,780 shares of the information services provider’s stock worth $161,918,000 after purchasing an additional 780,746 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This trade represents a 19.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 227,952 shares of company stock worth $58,896,009. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $299.65 on Friday. The stock’s 50 day moving average is $262.98 and its two-hundred day moving average is $214.24. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $306.89. The company has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. Bank of America increased their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Loop Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Pivotal Research lifted their price objective on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Piper Sandler boosted their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.