Legacy Capital Group California Inc. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Legacy Capital Group California Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,021 shares of the information services provider’s stock after buying an additional 111 shares during the period. Legacy Capital Group California Inc.’s holdings in Alphabet were worth $1,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Alphabet in the fourth quarter worth about $11,600,970,000. FMR LLC boosted its position in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares in the last quarter. Cerity Partners LLC grew its stake in Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after acquiring an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Alphabet by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after purchasing an additional 2,222,950 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.9 %

GOOG traded up $1.55 during midday trading on Thursday, hitting $175.43. 17,236,155 shares of the company’s stock traded hands, compared to its average volume of 22,343,055. Alphabet Inc. has a one year low of $115.83 and a one year high of $176.42. The stock’s fifty day simple moving average is $157.02 and its 200-day simple moving average is $145.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $2.17 trillion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $1.17 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $165.67.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 276,511 shares of company stock worth $41,234,695 in the last ninety days. Company insiders own 12.99% of the company’s stock.

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.