Alphabet Inc. $GOOG Shares Sold by Legacy Financial Group Inc.

Legacy Financial Group Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,863 shares of the information services provider’s stock after selling 896 shares during the quarter. Legacy Financial Group Inc.’s holdings in Alphabet were worth $1,572,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GOOG. Vanguard Group Inc. boosted its position in shares of Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after buying an additional 5,182,111 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Geode Capital Management LLC raised its position in Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after acquiring an additional 441,177 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Sanders Capital LLC grew its position in shares of Alphabet by 6.4% in the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after purchasing an additional 2,117,990 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GOOG shares. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Piper Sandler boosted their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Barclays upped their price objective on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Wolfe Research boosted their target price on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Price Performance

GOOG stock opened at $299.65 on Friday. The stock has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $306.89. The stock’s fifty day simple moving average is $262.98 and its 200-day simple moving average is $214.24.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,952 shares of company stock worth $58,896,009 in the last three months. Company insiders own 12.99% of the company’s stock.

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.