Legacy Private Trust Co. Sells 7,297 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Legacy Private Trust Co. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,259 shares of the information services provider’s stock after selling 7,297 shares during the quarter. Alphabet comprises approximately 1.3% of Legacy Private Trust Co.’s investment portfolio, making the stock its 14th biggest holding. Legacy Private Trust Co.’s holdings in Alphabet were worth $19,525,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Rockbridge Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $3,119,000. Optivise Advisory Services LLC increased its position in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after purchasing an additional 403 shares during the period. Community Bank N.A. boosted its holdings in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd boosted its holdings in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after buying an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC boosted its holdings in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after buying an additional 258 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOGL shares. Stifel Nicolaus dropped their price objective on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Susquehanna decreased their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. Wedbush set a $190.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, Sanford C. Bernstein lifted their price target on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,533 shares of company stock valued at $26,772,774 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $171.86 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $159.12 and its two-hundred day moving average price is $174.68. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a market capitalization of $2.09 trillion, a P/E ratio of 21.35, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the company posted $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Alphabet Company 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.