Crown Wealth Group LLC Purchases 1,359 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Crown Wealth Group LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,412 shares of the information services provider’s stock after acquiring an additional 1,359 shares during the quarter. Alphabet makes up about 1.6% of Crown Wealth Group LLC’s investment portfolio, making the stock its 13th largest position. Crown Wealth Group LLC’s holdings in Alphabet were worth $2,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp increased its holdings in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Finally, Norges Bank bought a new stake in Alphabet in the fourth quarter valued at about $8,335,063,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOOGL. Redburn Atlantic upped their price objective on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. BMO Capital Markets boosted their target price on Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial decreased their target price on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities decreased their target price on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.39.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $156.60 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a 50 day moving average price of $144.33 and a 200 day moving average price of $139.28. The stock has a market capitalization of $1.95 trillion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $158.56.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the company earned $1.05 earnings per share. Analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 250,539 shares of company stock worth $35,906,259 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Alphabet Company 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.