Legacy CG LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

Legacy CG LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,624 shares of the information services provider’s stock after purchasing an additional 9,460 shares during the quarter. Alphabet makes up 2.3% of Legacy CG LLC’s portfolio, making the stock its 14th biggest holding. Legacy CG LLC’s holdings in Alphabet were worth $6,007,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Totem Point Management LLC lifted its position in shares of Alphabet by 22.0% in 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 in the last quarter. Somerville Kurt F lifted its position in Alphabet by 10.3% during 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 period. BCK Partners Inc. purchased a new position in Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. lifted its position in Alphabet by 53.2% during 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 period. Finally, Fairfield Bush & CO. lifted its position in Alphabet by 6.8% during 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 period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG stock opened at $156.88 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70. The firm has a market cap of $1.95 trillion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The stock has a 50-day simple moving average of $147.15 and a 200-day simple moving average of $141.61.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GOOG shares. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Company Profile

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.