Alphabet Inc. $GOOG Shares Bought by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the second quarter, HoldingsChannel reports. The firm owned 8,812 shares of the information services provider’s stock after buying an additional 189 shares during the period. Legacy Wealth Management LLC MS’s holdings in Alphabet were worth $1,563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter worth about $32,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the first quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in Alphabet in the first quarter valued at about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cowen restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research increased their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $227.56.

Alphabet Stock Performance

Alphabet stock opened at $241.38 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $242.57. The company has a fifty day moving average price of $202.67 and a two-hundred day moving average price of $178.83. The company has a market cap of $2.92 trillion, a PE ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is currently owned by insiders.

Alphabet 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.