Legacy CG LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Legacy CG LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 42,696 shares of the information services provider’s stock after buying an additional 676 shares during the period. Alphabet makes up approximately 2.5% of Legacy CG LLC’s investment portfolio, 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 quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter worth $27,000. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % 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, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,529 shares of company stock worth $16,600,078. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several recent research reports. Barclays upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six research 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.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

NASDAQ:GOOG opened at $187.14 on Monday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The company has a 50 day moving average price of $193.12 and a 200 day moving average price of $176.13. The stock has a market capitalization of $2.29 trillion, a P/E ratio of 23.25, a PEG ratio of 1.39 and a beta of 1.00.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.