Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 760,173 shares of the information services provider’s stock after buying an additional 24,147 shares during the quarter. Alphabet makes up approximately 2.4% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 5th largest position. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $126,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC increased its position in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC increased its holdings in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. First PREMIER Bank boosted its holdings in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares during the period. Finally, MKT Advisors LLC increased its holdings in shares of Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GOOGL shares. Morgan Stanley boosted their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Mizuho raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Roth Mkm boosted their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Loop Capital boosted their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.6 %

Shares of GOOGL stock opened at $175.30 on Tuesday. The firm’s 50 day moving average price is $166.15 and its two-hundred day moving average price is $170.28. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm earned $1.55 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s payout ratio is currently 10.61%.

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.