My Legacy Advisors LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

My Legacy Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 20,912 shares of the information services provider’s stock after buying an additional 437 shares during the period. Alphabet accounts for approximately 1.2% of My Legacy Advisors LLC’s portfolio, making the stock its 17th largest position. My Legacy Advisors LLC’s holdings in Alphabet were worth $3,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. PayPay Securities Corp increased its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the period. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $49,000. Navigoe LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.7%

Shares of NASDAQ GOOGL opened at $177.35 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm’s 50 day moving average price is $161.71 and its 200 day moving average price is $174.51. The firm has a market cap of $2.15 trillion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. DA Davidson dropped their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Piper Sandler boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Truist Financial dropped their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.75.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% 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 this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,570 shares of company stock worth $32,003,532. 11.64% of the stock is owned by insiders.

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.