Legacy Bridge LLC Sells 495 Shares of Alphabet Inc. (NASDAQ:GOOG)

Legacy Bridge LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,250 shares of the information services provider’s stock after selling 495 shares during the quarter. Legacy Bridge LLC’s holdings in Alphabet were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prospera Financial Services Inc increased its holdings in shares of Alphabet by 12.9% during the 3rd quarter. Prospera Financial Services Inc now owns 122,923 shares of the information services provider’s stock valued at $20,555,000 after acquiring an additional 13,998 shares during the last quarter. Tranquility Partners LLC grew its holdings in Alphabet by 1.1% during the third quarter. Tranquility Partners LLC now owns 14,426 shares of the information services provider’s stock valued at $2,412,000 after purchasing an additional 151 shares during the last quarter. Whalen Wealth Management Inc. raised its position in shares of Alphabet by 14.1% in the third quarter. Whalen Wealth Management Inc. now owns 10,919 shares of the information services provider’s stock valued at $1,825,000 after purchasing an additional 1,347 shares during the period. Belmont Capital LLC lifted its stake in shares of Alphabet by 0.7% in the third quarter. Belmont Capital LLC now owns 15,181 shares of the information services provider’s stock worth $2,538,000 after buying an additional 111 shares during the last quarter. Finally, Aviance Capital Partners LLC lifted its stake in shares of Alphabet by 1.0% in the third quarter. Aviance Capital Partners LLC now owns 16,356 shares of the information services provider’s stock worth $2,735,000 after buying an additional 163 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $176.80 on Tuesday. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $167.56 and its 200-day moving average is $171.80. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 over the last three months. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOOG shares. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Barclays increased their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.