Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,605 shares of the information services provider’s stock after acquiring an additional 235 shares during the quarter. Alphabet makes up 0.7% of Legacy Capital Group California Inc.’s portfolio, making the stock its 23rd biggest holding. Legacy Capital Group California Inc.’s holdings in Alphabet were worth $1,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GOOGL. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter valued at $38,000. Meritage Group LP increased its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the last quarter. Armor Investment Advisors LLC increased its stake in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in Alphabet in the fourth quarter valued at $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOGL shares. Roth Mkm upped their target price on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Barclays upped their price target on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. BMO Capital Markets restated an “outperform” rating and set a $215.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Truist Financial upped their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, JMP Securities restated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.60.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,935 shares of company stock worth $31,178,987. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $177.85 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $178.77. The business has a 50 day moving average price of $158.79 and a two-hundred day moving average price of $145.98. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.20 trillion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating 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 last year, the firm earned $1.17 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%.

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.