Legacy Capital Wealth Partners LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Legacy Capital Wealth Partners LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,551 shares of the information services provider’s stock after purchasing an additional 183 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Alphabet were worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Conservest Capital Advisors Inc. boosted its position in shares of Alphabet by 36.3% during the fourth quarter. Conservest Capital Advisors Inc. now owns 4,070 shares of the information services provider’s stock valued at $569,000 after purchasing an additional 1,085 shares in the last quarter. Paradigm Financial Partners LLC boosted its position in shares of Alphabet by 0.7% during the fourth quarter. Paradigm Financial Partners LLC now owns 69,529 shares of the information services provider’s stock valued at $9,713,000 after purchasing an additional 514 shares in the last quarter. Financial Advisors LLC boosted its position in shares of Alphabet by 1.5% during the fourth quarter. Financial Advisors LLC now owns 7,440 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 112 shares in the last quarter. Sargent Investment Group LLC boosted its position in shares of Alphabet by 25.3% during the fourth quarter. Sargent Investment Group LLC now owns 34,324 shares of the information services provider’s stock valued at $4,795,000 after purchasing an additional 6,929 shares in the last quarter. Finally, Stonebrook Private Inc. bought a new stake in Alphabet in the fourth quarter worth $1,822,000. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock valued at $40,382,765 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Argus boosted their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Wolfe Research boosted their target price on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Susquehanna boosted their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a report on Monday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $200.00 target price (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Finally, Evercore ISI boosted their target price on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Stock Performance

Shares of GOOGL opened at $167.24 on Monday. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $150.14 and a two-hundred day simple moving average of $142.36. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a 52 week low of $103.97 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

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.