Alphabet Inc. (NASDAQ:GOOGL) is Legacy Wealth Management LLC MS’s 7th Largest Position

Legacy Wealth Management LLC MS decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,555 shares of the information services provider’s stock after selling 5,522 shares during the quarter. Alphabet makes up about 3.1% of Legacy Wealth Management LLC MS’s holdings, making the stock its 7th largest position. Legacy Wealth Management LLC MS’s holdings in Alphabet were worth $7,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Lantz Financial LLC grew its holdings in shares of Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after buying an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at approximately $218,000. Vance Wealth Inc. increased its holdings in shares of Alphabet by 4.0% in the second quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock valued at $563,000 after purchasing an additional 119 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of Alphabet by 38.4% during the second quarter. Riggs Asset Managment Co. Inc. now owns 2,917 shares of the information services provider’s stock worth $531,000 after purchasing an additional 810 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its holdings in shares of Alphabet by 0.6% during the second quarter. Ameritas Advisory Services LLC now owns 46,276 shares of the information services provider’s stock worth $8,429,000 after purchasing an additional 287 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,887 shares of company stock worth $27,996,356. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GOOGL shares. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $206.44.

Alphabet Price Performance

NASDAQ:GOOGL traded up $3.59 during midday trading on Monday, hitting $195.38. 6,951,477 shares of the stock were exchanged, compared to its average volume of 14,384,533. The business has a 50-day moving average price of $180.24 and a two-hundred day moving average price of $172.46. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the business posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

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

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.