My Legacy Advisors LLC Sells 4,492 Shares of Alphabet Inc. (NASDAQ:GOOGL)

My Legacy Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,354 shares of the information services provider’s stock after selling 4,492 shares during the quarter. Alphabet comprises 1.2% of My Legacy Advisors LLC’s holdings, making the stock its 17th largest position. My Legacy Advisors LLC’s holdings in Alphabet were worth $3,044,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mirador Capital Partners LP raised its position in shares of Alphabet by 3.3% during the first quarter. Mirador Capital Partners LP now owns 57,836 shares of the information services provider’s stock worth $8,729,000 after purchasing an additional 1,843 shares during the period. Aviance Capital Partners LLC boosted its stake in shares of Alphabet by 66.9% during the 1st quarter. Aviance Capital Partners LLC now owns 149,763 shares of the information services provider’s stock worth $22,604,000 after acquiring an additional 60,044 shares during the period. Diversified Trust Co boosted its stake in shares of Alphabet by 10.4% during the 1st quarter. Diversified Trust Co now owns 195,594 shares of the information services provider’s stock worth $29,521,000 after acquiring an additional 18,426 shares during the period. BKM Wealth Management LLC boosted its stake in Alphabet by 32.3% in the 1st quarter. BKM Wealth Management LLC now owns 1,693 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 413 shares during the period. Finally, Horizon Wealth Management LLC lifted its position in shares of Alphabet by 14.8% during the 1st quarter. Horizon Wealth Management LLC now owns 3,692 shares of the information services provider’s stock valued at $557,000 after acquiring an additional 475 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. UBS Group boosted their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Evercore ISI upped their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, JMP Securities upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.51.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock worth $37,776,954 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.1 %

Shares of GOOGL opened at $171.29 on Friday. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.29 and a beta of 1.04. Alphabet Inc. has a 12-month low of $126.93 and a 12-month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $162.43 and a 200-day moving average price of $168.91.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm earned $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.85 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 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.