Crescent Grove Advisors LLC Sells 1,614 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Crescent Grove Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,018 shares of the information services provider’s stock after selling 1,614 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Alphabet were worth $1,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. RWQ Financial Management Services Inc. lifted its holdings in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the last quarter. Ballast Advisors LLC lifted its holdings in shares of Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC lifted its holdings in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after buying an additional 564 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after buying an additional 104,366 shares in the last quarter. Finally, NatWest Group plc lifted its holdings in shares of Alphabet by 239.0% during the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after buying an additional 71,057 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 over the last ninety days. Insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $158.26 on Wednesday. The stock has a market cap of $1.97 trillion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $146.69 and its 200-day moving average is $140.93. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the business posted $1.05 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. UBS Group lifted their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company dropped their target price on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Redburn Atlantic lifted their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.71.

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.