Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,443 shares of the information services provider’s stock after purchasing an additional 702 shares during the quarter. Alphabet accounts for approximately 0.8% of Legacy Financial Advisors Inc.’s investment portfolio, making the stock its 22nd largest holding. Legacy Financial Advisors Inc.’s holdings in Alphabet were worth $4,667,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $34,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter worth approximately $44,000. Hoese & Co LLP boosted its stake in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new position in Alphabet during the second quarter worth $48,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.9 %

NASDAQ:GOOG opened at $164.64 on Friday. The firm has a market capitalization of $2.03 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The stock has a 50 day moving average of $166.26 and a 200-day moving average of $166.79. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 earnings per share. Analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

Several brokerages have recently commented on GOOG. Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.86.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,667 shares of company stock worth $33,964,256. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company 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.