Legacy Wealth Management LLC MS Has $1.44 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Legacy Wealth Management LLC MS lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,623 shares of the information services provider’s stock after selling 140 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Alphabet were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the third quarter valued at approximately $33,000. Abich Financial Wealth Management LLC boosted its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the second quarter valued at approximately $37,000. Finally, HWG Holdings LP bought a new stake in Alphabet in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the 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 transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,123 shares of company stock valued at $34,121,676 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG traded down $1.71 during trading hours on Friday, hitting $191.92. The company’s stock had a trading volume of 6,540,809 shares, compared to its average volume of 19,607,008. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day simple moving average of $172.74 and a two-hundred day simple moving average of $172.12. Alphabet Inc. has a 52-week low of $131.06 and a 52-week high of $196.89.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $1.55 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOG shares. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

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.