Legacy CG LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Legacy CG LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 42,020 shares of the information services provider’s stock after selling 630 shares during the quarter. Alphabet comprises approximately 2.3% of Legacy CG LLC’s portfolio, making the stock its 13th biggest position. Legacy CG LLC’s holdings in Alphabet were worth $7,025,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Colonial River Wealth Management LLC increased its position in shares of Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares during the period. Rosenberg Matthew Hamilton grew its position in Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 498 shares during the period. Alliance Wealth Management Group grew its position in Alphabet by 93.6% during the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after purchasing an additional 1,890 shares during the period. Handelsbanken Fonder AB grew its position in Alphabet by 4.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after purchasing an additional 115,716 shares during the period. Finally, TSA Wealth Managment LLC acquired a new stake in Alphabet during the 2nd quarter worth about $206,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of Alphabet 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 sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’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 sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,052 shares of company stock worth $38,086,723 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $170.68 on Tuesday. The company has a fifty day simple moving average of $163.87 and a two-hundred day simple moving average of $170.72. The company has a market cap of $2.10 trillion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup increased their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.