StoneCrest Wealth Management Inc. Has $3.57 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

StoneCrest Wealth Management Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,509 shares of the information services provider’s stock after purchasing an additional 140 shares during the period. Alphabet comprises about 2.6% of StoneCrest Wealth Management Inc.’s investment portfolio, making the stock its 17th biggest position. StoneCrest Wealth Management Inc.’s holdings in Alphabet were worth $3,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter valued at about $36,000. Tributary Capital Management LLC acquired a new position in Alphabet in the first quarter worth about $30,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth about $41,000. Finally, Quarry LP acquired a new stake in Alphabet during the second quarter valued at approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $162.93 on Friday. The stock has a market cap of $2.01 trillion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock’s 50-day moving average price is $161.77 and its two-hundred day moving average price is $168.01. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the firm earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOGL. Royal Bank of Canada increased their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Tuesday. Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Mizuho boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

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.