Legend Financial Advisors Inc. Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Legend Financial Advisors Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 800 shares of the information services provider’s stock, valued at approximately $77,000.

Several other institutional investors also recently modified their holdings of GOOGL. Ambassador Advisors LLC raised its stake in Alphabet by 2,058.1% during the third quarter. Ambassador Advisors LLC now owns 669 shares of the information services provider’s stock worth $64,000 after acquiring an additional 638 shares in the last quarter. River & Mercantile Asset Management LLP increased its stake in shares of Alphabet by 1,395.0% in the third quarter. River & Mercantile Asset Management LLP now owns 111,270 shares of the information services provider’s stock valued at $10,646,000 after buying an additional 103,827 shares in the last quarter. D L Carlson Investment Group Inc. increased its stake in shares of Alphabet by 1,885.7% in the third quarter. D L Carlson Investment Group Inc. now owns 128,672 shares of the information services provider’s stock valued at $12,307,000 after buying an additional 122,192 shares in the last quarter. Spotlight Asset Group Inc. acquired a new stake in shares of Alphabet in the third quarter valued at $611,000. Finally, Future Fund LLC increased its stake in shares of Alphabet by 1,826.0% in the third quarter. Future Fund LLC now owns 8,012 shares of the information services provider’s stock valued at $766,000 after buying an additional 7,596 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Mizuho lowered their target price on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Loop Capital raised their target price on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price target on shares of Alphabet in a report on Friday, February 10th. Finally, StockNews.com assumed coverage on Alphabet in a report on Thursday. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $132.32.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the sale, the chief accounting officer now owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last quarter, insiders sold 36,745 shares of company stock worth $3,424,078. Insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $96.11 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a 50-day moving average of $94.51 and a 200-day moving average of $96.29. The company has a market cap of $1.23 trillion, a PE ratio of 21.12, a P/E/G ratio of 1.25 and a beta of 1.09. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results 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 during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

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.