Legacy Capital Group California Inc. Purchases 235 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Legacy Capital Group California Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,605 shares of the information services provider’s stock after purchasing an additional 235 shares during the period. Alphabet comprises 0.7% of Legacy Capital Group California Inc.’s holdings, making the stock its 23rd largest position. Legacy Capital Group California Inc.’s holdings in Alphabet were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Aire Advisors LLC lifted its position in Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after acquiring an additional 68 shares during the last quarter. Defined Wealth Management LLC lifted its position in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after acquiring an additional 71 shares during the last quarter. WealthCare Investment Partners LLC increased its holdings in shares of Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after purchasing an additional 71 shares during the period. Peoples Financial Services CORP. increased its holdings in shares of Alphabet by 0.4% during the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after purchasing an additional 72 shares during the period. Finally, RAM Investment Partners LLC increased its holdings in shares of Alphabet by 1.0% during the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after purchasing an additional 73 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold a total of 205,935 shares of company stock worth $31,178,987 over the last quarter. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Truist Financial raised their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays raised their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Sanford C. Bernstein raised their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Raymond James raised their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Robert W. Baird raised their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five equities 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $177.85 on Wednesday. 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. The firm’s fifty day moving average is $158.79 and its 200-day moving average is $145.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $178.77.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business earned $1.17 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

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