Legacy Financial Group LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Legacy Financial Group LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,432 shares of the information services provider's stock, valued at approximately $273,000.

A number of other large investors also recently made changes to their positions in the business. FMR LLC increased its stake in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock worth $17,247,208,000 after acquiring an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Jennison Associates LLC grew its holdings in shares of Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after purchasing an additional 1,291,274 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after purchasing an additional 264,962 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares of the company's stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company's stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,887 shares of company stock valued at $22,470,464. Corporate insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. Phillip Securities raised Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.13.

Alphabet Trading Up 2.1 %

Alphabet stock traded up $4.07 during trading hours on Thursday, reaching $201.25. 6,425,532 shares of the company's stock traded hands, compared to its average volume of 15,739,180. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The firm's 50 day moving average is $189.03 and its 200-day moving average is $175.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $86.39 billion. During the same quarter last year, the business earned $1.55 earnings per share. The company's revenue was up 15.1% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

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.