Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,280 shares of the information services provider’s stock after purchasing an additional 1,357 shares during the quarter. Alphabet makes up about 2.1% of Crestwood Advisors Group LLC’s portfolio, making the stock its 9th largest holding. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $61,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Dravo Bay LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $28,000. Financial Enhancement Group LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $31,000. Wealthgate Family Office LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $32,000. Verity Asset Management Inc. increased its position in Alphabet by 536,206.4% in the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 589,827 shares during the period. Finally, Advocacy Wealth Management Services LLC increased its position in Alphabet by 72.7% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 8 shares during the period. 1.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $110.00, for a total transaction of $165,000.00. Following the transaction, the director now directly owns 33,260 shares of the company’s stock, valued at $3,658,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John Kent Walker sold 34,799 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the completion of the sale, the insider now owns 18,484 shares in the company, valued at $2,185,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the sale, the director now owns 33,260 shares of the company’s stock, valued at approximately $3,658,600. The disclosure for this sale can be found here. Insiders have sold 44,536 shares of company stock valued at $15,729,998 over the last ninety days. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Down 0.1 %

GOOGL opened at $102.80 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The company’s 50-day moving average is $112.93 and its 200 day moving average is $118.84. Alphabet Inc. has a fifty-two week low of $100.94 and a fifty-two week high of $151.55. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The firm had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same period in the previous year, the business earned $27.26 earnings per share. Research analysts expect that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on GOOGL. Wells Fargo & Company decreased their price target on shares of Alphabet from $170.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, July 27th. Itaú Unibanco started coverage on shares of Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price objective for the company. Rosenblatt Securities increased their price objective on shares of Alphabet from $154.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, September 7th. Finally, Mizuho decreased their price objective on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.41.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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