Legacy Financial Advisors Inc. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Legacy Financial Advisors Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 555 shares of the information services provider’s stock after purchasing an additional 71 shares during the quarter. Alphabet comprises 0.3% of Legacy Financial Advisors Inc.’s holdings, making the stock its 28th biggest position. Legacy Financial Advisors Inc.’s holdings in Alphabet were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Artemis Investment Management LLP increased its stake in Alphabet by 46.2% during the 1st quarter. Artemis Investment Management LLP now owns 187,935 shares of the information services provider’s stock valued at $388,497,000 after purchasing an additional 59,427 shares in the last quarter. Baker Ellis Asset Management LLC increased its stake in Alphabet by 4.1% during the 1st quarter. Baker Ellis Asset Management LLC now owns 3,275 shares of the information services provider’s stock valued at $6,775,000 after purchasing an additional 130 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Alphabet by 4.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 64,981 shares of the information services provider’s stock valued at $133,930,000 after purchasing an additional 2,934 shares in the last quarter. Wilkinson Global Asset Management LLC acquired a new position in Alphabet during the 1st quarter valued at approximately $633,000. Finally, Crestone Asset Management LLC increased its stake in shares of Alphabet by 1.3% in the first quarter. Crestone Asset Management LLC now owns 456 shares of the information services provider’s stock worth $943,000 after acquiring an additional 6 shares during the period. Institutional investors and hedge funds own 31.94% of the company’s stock.

Shares of GOOG stock opened at $2,395.17 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.41 and a quick ratio of 3.39. The firm’s 50-day moving average is $2,201.27 and its two-hundred day moving average is $1,928.06. Alphabet Inc. has a 12 month low of $1,299.00 and a 12 month high of $2,452.38. The company has a market capitalization of $1.61 trillion, a PE ratio of 46.28, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, topping analysts’ consensus estimates of $15.74 by $10.55. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The company had revenue of $55.30 billion for the quarter, compared to the consensus estimate of $51.40 billion. During the same period in the previous year, the firm earned $9.87 earnings per share. Alphabet’s quarterly revenue was up 34.4% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 52.19 EPS for the current year.

A number of analysts have recently weighed in on GOOG shares. Piper Sandler increased their price objective on shares of Alphabet from $2,250.00 to $2,635.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Alphabet from $2,600.00 to $3,050.00 and gave the company a “buy” rating in a research report on Wednesday, April 28th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Wednesday, April 28th. Finally, Raymond James raised their price target on shares of Alphabet from $2,440.00 to $2,750.00 and gave the company an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $2,495.63.

In other Alphabet news, CAO Amie Thuener O’toole sold 30 shares of Alphabet stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $2,152.94, for a total transaction of $64,588.20. Following the completion of the sale, the chief accounting officer now directly owns 966 shares in the company, valued at $2,079,740.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 3,000 shares of Alphabet stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total transaction of $6,205,500.00. Following the sale, the chief executive officer now owns 6,757 shares of the company’s stock, valued at $13,976,854.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,131 shares of company stock valued at $43,393,845. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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