Cross Staff Investments Inc Has $2.62 Million Holdings in Alphabet Inc. $GOOGL

Cross Staff Investments Inc decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,843 shares of the information services provider’s stock after selling 198 shares during the quarter. Alphabet comprises 1.8% of Cross Staff Investments Inc’s investment portfolio, making the stock its 9th largest holding. Cross Staff Investments Inc’s holdings in Alphabet were worth $2,616,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the first quarter valued at $28,000. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.3%

GOOGL stock opened at $256.55 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $257.33. The business has a 50 day moving average price of $232.66 and a two-hundred day moving average price of $192.92. The company has a market cap of $3.10 trillion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. UBS Group upped their price target on Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Guggenheim reissued a “buy” rating and issued a $280.00 target price (up previously from $210.00) on shares of Alphabet in a research note on Friday. Canaccord Genuity Group increased their target price on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Finally, Melius Research raised their price target on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.86.

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.