Crestwood Advisors Group LLC Has $146.32 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Crestwood Advisors Group LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 772,948 shares of the information services provider’s stock after acquiring an additional 12,775 shares during the quarter. Alphabet accounts for 2.7% of Crestwood Advisors Group LLC’s portfolio, making the stock its 5th largest holding. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $146,319,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Pettinga Financial Advisors LLC lifted its position in Alphabet by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after purchasing an additional 201 shares during the period. Ellis Investment Partners LLC lifted its holdings in shares of Alphabet by 0.5% during the third quarter. Ellis Investment Partners LLC now owns 29,361 shares of the information services provider’s stock valued at $4,869,000 after acquiring an additional 157 shares during the period. OMNI 360 Wealth Inc. lifted its holdings in shares of Alphabet by 42.4% during the third quarter. OMNI 360 Wealth Inc. now owns 3,488 shares of the information services provider’s stock valued at $578,000 after acquiring an additional 1,039 shares during the period. Motiv8 Investments LLC lifted its holdings in shares of Alphabet by 4.7% during the third quarter. Motiv8 Investments LLC now owns 5,434 shares of the information services provider’s stock valued at $901,000 after acquiring an additional 242 shares during the period. Finally, First Financial Bankshares Inc lifted its holdings in shares of Alphabet by 1.4% during the third quarter. First Financial Bankshares Inc now owns 409,273 shares of the information services provider’s stock valued at $67,878,000 after acquiring an additional 5,638 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOOGL shares. KeyCorp raised their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Piper Sandler lowered their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Citigroup lowered their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Up 0.9 %

GOOGL opened at $173.86 on Friday. Alphabet Inc. has a 1-year low of $134.00 and a 1-year high of $207.05. The stock’s fifty day simple moving average is $188.21 and its 200 day simple moving average is $176.47. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.12 trillion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction 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 sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is 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.