Legacy Financial Strategies LLC Has $409,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Legacy Financial Strategies LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,615 shares of the information services provider’s stock after purchasing an additional 336 shares during the period. Legacy Financial Strategies LLC’s holdings in Alphabet were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GOOG. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new stake in Alphabet during the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet during the 4th quarter worth approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOG. Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, KeyCorp dropped their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.94.

Alphabet Stock Performance

NASDAQ:GOOG opened at $170.87 on Friday. The company has a fifty day moving average of $160.88 and a 200-day moving average of $176.30. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Alphabet’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS 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 $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Insider Activity

In other Alphabet news, 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 completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,533 shares of company stock worth $26,772,774 in the last quarter. 12.99% of the stock is owned by corporate insiders.

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.