Red Crane Wealth Management LLC Increases Position in Alphabet Inc. $GOOGL

Red Crane Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,659 shares of the information services provider’s stock after buying an additional 281 shares during the quarter. Red Crane Wealth Management LLC’s holdings in Alphabet were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GOOGL. Mystic Asset Management Inc. boosted its stake in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Cypress Capital LLC lifted its stake in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,330 shares of company stock worth $51,167,625 over the last three months. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $281.31 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.40 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00. The firm’s 50 day moving average is $244.00 and its two-hundred day moving average is $200.31. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on GOOGL shares. Wall Street Zen upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America boosted their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday. New Street Research upped their target price on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Finally, Tigress Financial increased their price target on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.20.

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.