Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Lifted by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC increased its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,280 shares of the information services provider’s stock after buying an additional 1,357 shares during the quarter. Alphabet accounts for approximately 2.1% of Crestwood Advisors Group LLC’s holdings, making the stock its 9th biggest holding. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $61,633,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GOOGL. Dravo Bay LLC purchased a new position in shares of Alphabet in the first quarter worth $28,000. Financial Enhancement Group LLC purchased a new position in Alphabet during the 1st quarter valued at $31,000. Wealthgate Family Office LLC purchased a new position in Alphabet during the 4th quarter valued at $32,000. Verity Asset Management Inc. increased its position in Alphabet by 536,206.4% during the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 589,827 shares during the period. Finally, Advocacy Wealth Management Services LLC increased its position in Alphabet by 72.7% during the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 8 shares during the period. 1.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on GOOGL shares. Susquehanna reduced their price objective on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday, July 27th. Citigroup reduced their price objective on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Itau BBA Securities assumed coverage on shares of Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price objective on the stock. Truist Financial reduced their target price on shares of Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Finally, Piper Sandler lowered their price target on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.41.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. Insiders sold a total of 44,536 shares of company stock valued at $15,729,998 over the last three months. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Down 0.1 %

GOOGL opened at $102.80 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1-year low of $100.94 and a 1-year high of $151.55. The company has a market capitalization of $1.34 trillion, a PE ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09. The firm’s 50 day simple moving average is $112.93 and its two-hundred day simple moving average is $118.84.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. During the same quarter in the previous year, the business posted $27.26 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 5.21 EPS for the current year.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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