Crew Capital Management Ltd. Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Crew Capital Management Ltd. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 30.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,728 shares of the information services provider’s stock after selling 3,332 shares during the quarter. Alphabet makes up 1.0% of Crew Capital Management Ltd.’s investment portfolio, making the stock its 18th largest position. Crew Capital Management Ltd.’s holdings in Alphabet were worth $1,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. River Street Advisors LLC boosted its stake in shares of Alphabet by 9.0% during the 1st quarter. River Street Advisors LLC now owns 14,652 shares of the information services provider’s stock worth $2,211,000 after purchasing an additional 1,208 shares during the last quarter. Richardson Capital Management LLC boosted its position in Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Wealth Group LLC grew its stake in Alphabet by 60.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 62,799 shares of the information services provider’s stock worth $9,478,000 after acquiring an additional 23,684 shares during the period. Avalon Capital Management raised its holdings in Alphabet by 10.0% in the 1st quarter. Avalon Capital Management now owns 193,631 shares of the information services provider’s stock valued at $29,225,000 after acquiring an additional 17,540 shares during the last quarter. Finally, Gradient Capital Advisors LLC lifted its stake in shares of Alphabet by 1.4% during the 1st quarter. Gradient Capital Advisors LLC now owns 21,245 shares of the information services provider’s stock worth $3,207,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOGL shares. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wolfe Research started coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Guggenheim lifted their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $171.11 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s fifty day moving average price is $162.32 and its two-hundred day moving average price is $168.79. The firm has a market capitalization of $2.11 trillion, a PE ratio of 26.24, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the firm earned $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 7.65 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,744 shares of company stock valued at $35,878,764 over the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Company 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.