Crews Bank & Trust Makes New $4.99 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Crews Bank & Trust acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,361 shares of the information services provider’s stock, valued at approximately $4,990,000. Alphabet comprises approximately 0.8% of Crews Bank & Trust’s holdings, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings in Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Alphabet by 115.4% in the 2nd quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock valued at $1,264,022,000 after buying an additional 3,718,420 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 3.3 %

Shares of NASDAQ GOOGL opened at $185.34 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $191.28 and a 200-day moving average of $174.64. The firm has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOGL. Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wedbush lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Morgan Stanley reduced their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday. Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

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.