Crestwood Advisors Group LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Crestwood Advisors Group LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,182 shares of the information services provider’s stock after acquiring an additional 422 shares during the quarter. Alphabet accounts for approximately 1.2% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 28th biggest holding. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $50,760,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tandem Wealth Advisors LLC purchased a new position in Alphabet in the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet in the 4th quarter valued at about $26,000. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter valued at about $26,000. Buck Wealth Strategies LLC purchased a new position in Alphabet in the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. purchased a new position in Alphabet in the 3rd quarter valued at about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.8 %

Shares of NASDAQ GOOG opened at $156.33 on Tuesday. The company has a 50 day simple moving average of $146.73 and a 200-day simple moving average of $141.34. The company has a market capitalization of $1.94 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 EPS. On average, equities research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average price target of $157.50.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,033,907 in the last 90 days. Insiders own 12.99% of the company’s stock.

About Alphabet

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.