Crestmont Private Wealth LLC Makes New $286,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Crestmont Private Wealth LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,246 shares of the information services provider’s stock, valued at approximately $286,000. Alphabet comprises 0.2% of Crestmont Private Wealth LLC’s holdings, making the stock its 28th largest holding.

Other institutional investors have also modified their holdings of the company. DC Investments Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC lifted its holdings in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $281,000. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $101.62 on Friday. The business has a fifty day simple moving average of $95.08 and a 200 day simple moving average of $96.18. The company has a market capitalization of $1.30 trillion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter last year, the firm earned $1.53 earnings per share. Research analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last three months, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. StockNews.com began coverage on Alphabet in a research report on Thursday. They issued a “hold” rating on the stock. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a research report on Friday. Wells Fargo & Company lifted their target price on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Tigress Financial dropped their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 6th. Finally, New Street Research began coverage on Alphabet in a research report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $132.44.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.