Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Legacy Trust

Legacy Trust lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,724 shares of the information services provider’s stock after selling 365 shares during the quarter. Legacy Trust’s holdings in Alphabet were worth $1,852,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. M&G PLC bought a new position in Alphabet in the third quarter worth about $2,240,000. Coldstream Capital Management Inc. lifted its stake in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Requisite Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth about $927,000. Finally, Stevens Capital Management LP lifted its position in Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank raised their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,630 shares of company stock valued at $22,258,133 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $205.60 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.52 trillion, a PE ratio of 27.27, a P/E/G ratio of 1.27 and a beta of 0.99. The business has a fifty day simple moving average of $190.48 and a 200-day simple moving average of $175.66. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $207.08.

Alphabet 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.