Legacy Capital Wealth Partners LLC Purchases 1,749 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Legacy Capital Wealth Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 26.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 8,304 shares of the information services provider’s stock after purchasing an additional 1,749 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Alphabet were worth $1,377,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Guerra Pan Advisors LLC lifted its stake in Alphabet by 4.0% in the third quarter. Guerra Pan Advisors LLC now owns 28,262 shares of the information services provider’s stock valued at $4,687,000 after purchasing an additional 1,084 shares during the last quarter. Eagle Bluffs Wealth Management LLC grew its stake in Alphabet by 1.4% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 19,844 shares of the information services provider’s stock valued at $3,291,000 after acquiring an additional 274 shares in the last quarter. Costello Asset Management INC grew its position in shares of Alphabet by 0.9% during the 3rd quarter. Costello Asset Management INC now owns 30,638 shares of the information services provider’s stock valued at $5,081,000 after purchasing an additional 267 shares in the last quarter. Rocky Mountain Advisers LLC raised its holdings in shares of Alphabet by 33.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 3,210 shares of the information services provider’s stock valued at $532,000 after acquiring an additional 800 shares in the last quarter. Finally, 17 Capital Partners LLC raised its position in shares of Alphabet by 4.2% during the 3rd quarter. 17 Capital Partners LLC now owns 19,985 shares of the information services provider’s stock valued at $3,315,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.7 %

NASDAQ GOOGL opened at $164.76 on Monday. The stock’s 50 day simple moving average is $167.64 and its 200 day simple moving average is $170.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The firm has a market cap of $2.02 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Tigress Financial boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, KeyCorp boosted their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.