Crestmont Private Wealth LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Crestmont Private Wealth LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 28.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,840 shares of the information services provider’s stock after acquiring an additional 839 shares during the quarter. Alphabet comprises about 0.3% of Crestmont Private Wealth LLC’s portfolio, making the stock its 16th largest holding. Crestmont Private Wealth LLC’s holdings in Alphabet were worth $580,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the fourth quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter worth about $38,000. Meritage Group LP boosted its stake in shares of Alphabet by 1,061.5% during 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 grew its holdings in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC lifted its stake in Alphabet by 55.9% in the fourth 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 last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 1.9 %

GOOGL stock opened at $179.63 on Monday. The stock has a market capitalization of $2.22 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $180.85. The firm has a 50-day simple moving average of $170.05 and a 200-day simple moving average of $152.72. 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the company earned $1.17 EPS. Equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOGL. Barclays upped their target price on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. KeyCorp increased their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Wedbush boosted their target price on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet 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 transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,958 shares of company stock valued at $22,383,553. 11.55% of the stock is owned by company insiders.

Alphabet Profile

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.