Crestwood Advisors Group LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Crestwood Advisors Group LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,956.3% during the third quarter, Holdings Channel.com reports. The fund owned 581,526 shares of the information services provider’s stock after acquiring an additional 553,246 shares during the period. Alphabet accounts for about 2.0% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 12th biggest position. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $55,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Alphabet by 1,884.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock worth $1,714,333,000 after buying an additional 17,019,726 shares during the period. Fiera Capital Corp increased its stake in Alphabet by 1,957.3% during the 2nd quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock worth $1,945,783,000 after buying an additional 16,989,271 shares during the period. Nordea Investment Management AB increased its stake in Alphabet by 1,830.2% during the 3rd quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock worth $1,605,074,000 after buying an additional 15,633,495 shares during the period. Raymond James & Associates increased its stake in Alphabet by 1,927.0% during the 3rd quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock worth $792,433,000 after buying an additional 7,875,993 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Alphabet by 1,876.5% during the 3rd quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock worth $685,817,000 after buying an additional 6,807,300 shares during the period. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. KeyCorp lowered their price target on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, October 25th. Morgan Stanley boosted their price target on shares of Alphabet from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday. New Street Research started coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price for the company. MKM Partners lowered their target price on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. Finally, JMP Securities lowered their target price on shares of Alphabet from $145.00 to $132.00 in a report on Wednesday, November 23rd. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Insider Activity

In related news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the acquisition, the insider now directly owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the purchase, the insider now owns 11,522,248 shares in the company, valued at approximately $195,878,216. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Insiders own 11.44% of the company’s stock.

Alphabet Stock Up 5.3 %

Shares of Alphabet stock opened at $98.02 on Friday. The company has a market cap of $1.27 trillion, a P/E ratio of 19.47, a PEG ratio of 1.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The firm has a fifty day moving average of $93.03 and a two-hundred day moving average of $101.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The company had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter in the prior year, the business earned $1.40 EPS. On average, analysts forecast that Alphabet Inc. will post 4.68 earnings per share 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.