Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Legacy Advisors LLC

Legacy Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,363 shares of the information services provider’s stock after acquiring an additional 3,652 shares during the period. Alphabet accounts for about 1.5% of Legacy Advisors LLC’s investment portfolio, making the stock its 12th largest position. Legacy Advisors LLC’s holdings in Alphabet were worth $12,635,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $36,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,367 shares of company stock valued at $30,016,931. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.7 %

Shares of NASDAQ:GOOGL opened at $151.16 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a 50 day moving average of $168.75 and a two-hundred day moving average of $164.42. The company has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the company earned $1.44 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Loop Capital reaffirmed a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Wedbush reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America increased their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Piper Sandler cut their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.76.

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.