Atlas Legacy Advisors LLC Has $1.30 Million Position in Alphabet Inc. $GOOGL

Atlas Legacy Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,374 shares of the information services provider’s stock after purchasing an additional 1,285 shares during the quarter. Atlas Legacy Advisors LLC’s holdings in Alphabet were worth $1,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. raised its position in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC increased its stake in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares during the period. Moment Partners LLC increased its stake in shares of Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares during the period. Finally, Welch Group LLC raised its position in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after acquiring an additional 2,467 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,896 shares of company stock worth $47,653,637 over the last quarter. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Citigroup reiterated a “buy” rating and issued a $343.00 price objective (up from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Daiwa Capital Markets increased their price objective on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, DA Davidson raised their price objective on shares of Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Alphabet Stock Down 0.3%

NASDAQ:GOOGL opened at $284.28 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $293.95. The stock has a 50-day moving average price of $259.16 and a two-hundred day moving average price of $211.00. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

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.