Crestwood Advisors Group LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 760,173 shares of the information services provider's stock after purchasing an additional 24,147 shares during the quarter. Alphabet comprises 2.4% of Crestwood Advisors Group LLC's portfolio, making the stock its 5th biggest holding. Crestwood Advisors Group LLC's holdings in Alphabet were worth $126,073,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. New Hampshire Trust boosted its holdings in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock valued at $7,963,000 after acquiring an additional 1,132 shares during the period. Berkshire Money Management Inc. purchased a new position in Alphabet during the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock valued at $962,000 after acquiring an additional 2,351 shares during the period. Trinity Financial Advisors LLC boosted its holdings in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock valued at $771,000 after acquiring an additional 190 shares during the period. Finally, abrdn plc boosted its holdings in Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock valued at $1,037,196,000 after acquiring an additional 611,233 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 firms recently issued reports on GOOGL. Royal Bank of Canada boosted their price objective on Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Rosenblatt Securities reiterated a "neutral" rating and issued a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Morgan Stanley upped 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. Evercore ISI upped their target price on Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Wedbush reiterated an "outperform" rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $205.90.
Get Our Latest Stock Analysis on GOOGL
Alphabet Stock Performance
Shares of GOOGL stock traded up $2.82 during mid-day trading on Tuesday, reaching $178.12. The stock had a trading volume of 23,402,831 shares, compared to its average volume of 27,097,613. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. 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 firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.23 and a beta of 1.03. The business's fifty day moving average is $166.74 and its 200-day moving average is $170.36.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 7.99 earnings per share 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 paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's payout ratio is 10.61%.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 over the last quarter. 11.55% of the stock is currently owned by insiders.
Alphabet Profile
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Free Report)
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.
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