Legacy Private Trust Co. Makes New Investment in Alphabet Inc (NASDAQ:GOOG)

Legacy Private Trust Co. bought a new position in shares of Alphabet Inc (NASDAQ:GOOG) in the second quarter, Holdings Channel.com reports. The firm bought 148 shares of the information services provider’s stock, valued at approximately $209,000.

A number of other large investors have also modified their holdings of GOOG. Cim LLC raised its position in shares of Alphabet by 0.9% in the 4th quarter. Cim LLC now owns 808 shares of the information services provider’s stock worth $1,080,000 after acquiring an additional 7 shares in the last quarter. JGP Wealth Management LLC grew its stake in Alphabet by 4.8% during the 1st quarter. JGP Wealth Management LLC now owns 173 shares of the information services provider’s stock worth $209,000 after buying an additional 8 shares during the last quarter. Harvest Group Wealth Management LLC grew its stake in Alphabet by 7.0% during the 1st quarter. Harvest Group Wealth Management LLC now owns 122 shares of the information services provider’s stock valued at $141,000 after purchasing an additional 8 shares during the last quarter. Legacy Bridge LLC grew its stake in Alphabet by 1.1% during the 1st quarter. Legacy Bridge LLC now owns 735 shares of the information services provider’s stock valued at $855,000 after purchasing an additional 8 shares during the last quarter. Finally, Holistic Financial Partners grew its stake in Alphabet by 4.7% during the 1st quarter. Holistic Financial Partners now owns 178 shares of the information services provider’s stock valued at $207,000 after purchasing an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 33.00% of the company’s stock.

In other Alphabet news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the completion of the sale, the director now directly owns 592 shares in the company, valued at $807,257.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 30 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $1,328.50, for a total value of $39,855.00. Following the sale, the director now owns 1,119 shares in the company, valued at $1,486,591.50. The disclosure for this sale can be found here. Insiders sold 242 shares of company stock valued at $342,902 in the last ninety days. Insiders own 12.99% of the company’s stock.

Shares of Alphabet stock opened at $1,510.99 on Friday. The stock has a 50-day simple moving average of $1,430.65 and a 200-day simple moving average of $1,359.36. Alphabet Inc has a 52-week low of $1,013.54 and a 52-week high of $1,532.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market cap of $1,021.20 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 2.26 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the consensus estimate of $11.27 by ($1.40). The business had revenue of $41.16 billion for the quarter, compared to analyst estimates of $40.29 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. Alphabet’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $9.50 earnings per share. As a group, equities research analysts predict that Alphabet Inc will post 41.23 earnings per share for the current year.

Several analysts have weighed in on GOOG shares. BMO Capital Markets upgraded Alphabet from a “market perform” rating to an “outperform” rating in a research note on Monday, March 30th. Deutsche Bank reaffirmed a “buy” rating and set a $1,700.00 target price on shares of Alphabet in a report on Tuesday, May 5th. Credit Suisse Group cut their price target on shares of Alphabet from $1,700.00 to $1,500.00 and set an “outperform” rating for the company in a report on Monday, April 20th. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Finally, Cowen boosted their price target on shares of Alphabet from $1,450.00 to $1,525.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,580.52.

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. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Read More: How is the Producer Price Index calculated?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.