Legacy Edge Advisors LLC Acquires Shares of 16,288 Alphabet Inc. $GOOGL

Legacy Edge Advisors LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,288 shares of the information services provider’s stock, valued at approximately $5,098,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Symmetry Partners LLC boosted its holdings in shares of Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after purchasing an additional 30 shares during the last quarter. Members Trust Co boosted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after purchasing an additional 31 shares during the last quarter. Altfest L J & Co. Inc. boosted its holdings in shares of Alphabet by 0.4% during the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after purchasing an additional 31 shares during the last quarter. Lifelong Wealth Advisors Inc. boosted its holdings in shares of Alphabet by 1.9% during the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,728 shares of the information services provider’s stock valued at $541,000 after purchasing an additional 33 shares during the last quarter. Finally, White Wing Wealth Management raised its position in shares of Alphabet by 2.9% during the 4th quarter. White Wing Wealth Management now owns 1,155 shares of the information services provider’s stock valued at $362,000 after buying an additional 33 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOGL shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Monday, May 4th. Canaccord Genuity Group upped their target price on shares of Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Cantor Fitzgerald upped their target price on shares of Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Phillip Securities upped their target price on shares of Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research report on Wednesday, April 15th. Finally, Citizens Jmp restated a “market outperform” rating and set a $515.00 target price on shares of Alphabet in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $412.65.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google I/O announcements reinforced the company’s AI monetization story, with new ad formats, shopping tools, and Gemini-based products that could lift search and commerce revenue. Alphabet’s new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Several analysts reiterated bullish or supportive views on Alphabet after I/O, including price-target increases that point to more upside if AI rollout gains traction. Analyst rating updates on Alphabet
• Positive Sentiment: Google’s broader AI push remains a tailwind for Alphabet, with articles highlighting strong cloud/AI demand and growing usage across Gemini and AI Overviews. 4 Cloud Computing Stocks Benefiting From AI-Driven Demand
• Positive Sentiment: Alphabet continues to win favorable Wall Street coverage, including multiple buy ratings and raised targets, which can help support the stock near recent highs. Alphabet’s Googlebook Brings Gemini AI to PC Hardware
• Neutral Sentiment: Alphabet’s quarterly dividend increase and continued strong earnings remain supportive, but these were already known catalysts rather than a fresh surprise for traders. Alphabet stock performance and company details
• Neutral Sentiment: There was also a routine insider sale by a director, which may get attention but does not by itself change the company’s long-term outlook. SEC filing
• Neutral Sentiment: Alphabet’s new AI search experience has sparked debate about the future of web traffic and search behavior, but this is more of a strategic overhang than an immediate earnings issue. Google is going to ruin the internet
• Negative Sentiment: Waymo suspended freeway robotaxi rides and paused Atlanta operations while it fixes software problems in construction zones and flooded roads, raising short-term safety and execution concerns for Alphabet’s self-driving unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Additional reports said Waymo paused service in multiple cities after robotaxis struggled in heavy rain and construction zones, reinforcing concerns about rollout reliability. Waymo halts freeway rides after robotaxis struggle in construction zones
• Negative Sentiment: Regulatory and public-safety scrutiny is also building around Google’s platforms, including EU complaints over financial scams and UK child-safety criticism on YouTube. Google, Meta, TikTok face EU consumer complaints about handling of financial scams

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director directly owned 2,531 shares of the company’s stock, valued at $995,341.06. This represents a 29.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,481 shares of company stock worth $27,422,061 over the last three months. 11.61% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $387.66 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61. The firm has a market capitalization of $4.70 trillion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The company’s 50-day moving average is $336.26 and its 200 day moving average is $320.82.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is currently 6.41%.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.