Legacy CG LLC Buys 676 Shares of Alphabet Inc. (NASDAQ:GOOG)

Legacy CG LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,696 shares of the information services provider’s stock after purchasing an additional 676 shares during the period. Alphabet makes up approximately 2.5% of Legacy CG LLC’s holdings, making the stock its 12th largest position. Legacy CG LLC’s holdings in Alphabet were worth $8,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOG. YANKCOM Partnership bought a new stake in Alphabet during the fourth quarter valued at approximately $962,000. NovaPoint Capital LLC boosted its stake in shares of Alphabet by 46.6% during the 4th quarter. NovaPoint Capital LLC now owns 1,871 shares of the information services provider’s stock worth $356,000 after acquiring an additional 595 shares during the last quarter. Insight Advisors LLC PA boosted its stake in shares of Alphabet by 152.7% during the 4th quarter. Insight Advisors LLC PA now owns 17,920 shares of the information services provider’s stock worth $3,453,000 after acquiring an additional 10,828 shares during the last quarter. Trilogy Capital Inc. grew its position in shares of Alphabet by 8.1% during the 4th quarter. Trilogy Capital Inc. now owns 4,631 shares of the information services provider’s stock valued at $882,000 after acquiring an additional 347 shares during the period. Finally, Onyx Bridge Wealth Group LLC increased its stake in shares of Alphabet by 0.7% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 23,519 shares of the information services provider’s stock worth $4,479,000 after purchasing an additional 161 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $187.14 on Monday. The company’s 50-day moving average price is $193.12 and its 200-day moving average price is $176.13. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.29 trillion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Oppenheimer increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank raised their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 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, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is currently owned by company insiders.

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.