Legacy Investment Solutions LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Legacy Investment Solutions LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 862 shares of the information services provider’s stock, valued at approximately $154,000.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. International Assets Investment Management LLC increased its stake in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after acquiring an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of 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. increased its stake in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. Wulff Hansen & CO. increased its stake in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Alphabet by 91.0% in the 2nd quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after acquiring an additional 3,777,527 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, 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 transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 178,957 shares of company stock worth $31,358,687. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.6 %

Shares of Alphabet stock opened at $195.42 on Wednesday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. The stock’s 50-day simple moving average is $172.93 and its 200 day simple moving average is $170.97. The stock has a market capitalization of $2.39 trillion, a P/E ratio of 25.92, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the business posted $1.55 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.08.

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.