Legacy Private Trust Co. Purchases 2,424 Shares of Alphabet Inc. (NASDAQ:GOOG)

Legacy Private Trust Co. grew its position in Alphabet Inc. (NASDAQ:GOOG) by 34.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,538 shares of the information services provider’s stock after buying an additional 2,424 shares during the period. Legacy Private Trust Co.’s holdings in Alphabet were worth $1,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farmers Trust Co. boosted its position in shares of Alphabet by 12.9% during the fourth quarter. Farmers Trust Co. now owns 3,243 shares of the information services provider’s stock valued at $618,000 after buying an additional 371 shares during the last quarter. Private Client Services LLC lifted its stake in Alphabet by 15.3% during the 4th quarter. Private Client Services LLC now owns 10,099 shares of the information services provider’s stock valued at $1,923,000 after acquiring an additional 1,337 shares during the period. Fulton Bank N.A. lifted its stake in Alphabet by 4.1% during the 4th quarter. Fulton Bank N.A. now owns 77,667 shares of the information services provider’s stock valued at $14,791,000 after acquiring an additional 3,052 shares during the period. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $211,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth approximately $10,701,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This represents a 9.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock valued at $27,996,356 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GOOG shares. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Performance

NASDAQ GOOG opened at $195.39 on Thursday. The business has a 50-day moving average price of $183.26 and a 200-day moving average price of $174.38. The firm has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. 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 (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.