Legacy Private Trust Co. Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Legacy Private Trust Co. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 133,556 shares of the information services provider’s stock after purchasing an additional 163 shares during the period. Alphabet comprises 1.7% of Legacy Private Trust Co.’s holdings, making the stock its 12th biggest position. Legacy Private Trust Co.’s holdings in Alphabet were worth $25,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. LMR Partners LLP bought a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Quarry LP purchased a new position in Alphabet in the second quarter worth $53,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet during the third quarter worth $66,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the firm’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 completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock valued at $27,996,356 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock traded down $1.54 during mid-day trading on Wednesday, reaching $193.95. 24,452,541 shares of the stock traded hands, compared to its average volume of 23,853,354. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $181.36 and a 200 day moving average of $172.72. The stock has a market capitalization of $2.37 trillion, a PE ratio of 25.72, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm posted $1.55 EPS. On average, analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. Roth Mkm boosted their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Loop Capital increased their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $206.82.

Alphabet 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.