Legend Financial Advisors Inc. Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Legend Financial Advisors Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 460 shares of the information services provider’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Totem Point Management LLC increased its position in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after acquiring an additional 571 shares during the last quarter. Somerville Kurt F increased its position in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the last quarter. BCK Partners Inc. purchased a new stake in Alphabet in the first quarter worth $2,564,000. Hall Capital Management Co. Inc. increased its position in Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. increased its position in Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares during the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 36,745 shares of company stock valued at $3,424,078. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 2.4 %

Shares of Alphabet stock opened at $96.55 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. The stock has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 1.26 and a beta of 1.09. The company’s 50 day moving average price is $95.12 and its 200-day moving average price is $96.84.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 EPS. Equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOG. Oppenheimer raised their target price on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Piper Sandler decreased their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research report on Thursday, February 9th. The Goldman Sachs Group set a $128.00 price target on Alphabet in a report on Friday, February 3rd. Finally, Royal Bank of Canada set a $130.00 price target on Alphabet in a report on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.13.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.