Cresset Asset Management LLC Purchases 10,901 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cresset Asset Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,607,418 shares of the information services provider’s stock after buying an additional 10,901 shares during the period. Alphabet comprises 1.3% of Cresset Asset Management LLC’s holdings, making the stock its 12th largest position. Cresset Asset Management LLC’s holdings in Alphabet were worth $224,540,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the 4th quarter worth $38,000. Meritage Group LP boosted its stake in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Armor Investment Advisors LLC boosted its stake in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC boosted its stake in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $149.50, for a total value of $74,750.00. Following the completion of the sale, the director now directly owns 8,791 shares of the company’s stock, valued at approximately $1,314,254.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,458 shares of company stock worth $25,538,973. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Wedbush increased their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada increased their price objective on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. BMO Capital Markets restated an “outperform” rating and set a $215.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Finally, Needham & Company LLC increased their price objective on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.57.

Check Out Our Latest Research Report on Alphabet

Alphabet Price Performance

GOOGL stock opened at $175.01 on Tuesday. The firm has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.31 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77. The company’s fifty day simple moving average is $166.20 and its 200 day simple moving average is $149.98.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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