Legacy Wealth Management LLC MS increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,077 shares of the information services provider's stock after purchasing an additional 5,091 shares during the period. Alphabet makes up 2.9% of Legacy Wealth Management LLC MS's portfolio, making the stock its 6th biggest position. Legacy Wealth Management LLC MS's holdings in Alphabet were worth $7,808,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GOOGL. International Assets Investment Management LLC boosted its position in shares of Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock worth $31,086,250,000 after buying an additional 18,700,111 shares during the period. SG Americas Securities LLC lifted its stake in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares during the last quarter. Wulff Hansen & CO. boosted its position in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock worth $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Alphabet by 91.0% during the 2nd quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider's stock worth $1,450,599,000 after acquiring an additional 3,777,527 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 441 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,834 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,957 shares of company stock valued at $31,358,687. 11.55% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an "outperform" rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. KeyCorp raised their price objective on Alphabet from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Robert W. Baird reissued an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.69.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
NASDAQ:GOOGL traded up $2.90 during mid-day trading on Friday, reaching $191.41. 62,697,719 shares of the company's stock were exchanged, compared to its average volume of 27,725,518. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. 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 business's fifty day simple moving average is $173.99 and its two-hundred day simple moving average is $171.21. The firm has a market capitalization of $2.34 trillion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. During the same period last year, the firm earned $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet's payout ratio is 10.61%.
Alphabet Company Profile
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Free Report)
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.
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