3,246 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Crestmont Private Wealth LLC

Crestmont Private Wealth LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,246 shares of the information services provider’s stock, valued at approximately $286,000. Alphabet comprises approximately 0.2% of Crestmont Private Wealth LLC’s holdings, making the stock its 28th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Bornite Capital Management LP bought a new stake in Alphabet during the first quarter worth approximately $16,688,000. Markel Corp boosted its position in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank boosted its position in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management boosted its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOGL shares. New Street Research started coverage on Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price for the company. Credit Suisse Group reduced their price objective on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Wells Fargo & Company increased their price objective on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. JMP Securities reissued a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research report on Thursday. Finally, Tigress Financial reduced their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.44.

Insider Activity

In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $101.62 on Friday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $143.79. The firm has a market cap of $1.30 trillion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The business has a fifty day moving average of $95.08 and a 200-day moving average of $96.18.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter last year, the business posted $1.53 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.