Crestwood Advisors Group LLC Acquires 26,809 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Crestwood Advisors Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 736,026 shares of the information services provider’s stock after buying an additional 26,809 shares during the quarter. Alphabet comprises 2.8% of Crestwood Advisors Group LLC’s portfolio, making the stock its 5th biggest holding. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $134,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nebula Research & Development LLC bought a new stake in shares of Alphabet in the fourth quarter valued at about $787,000. New Hampshire Trust lifted its stake in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the period. Matisse Capital lifted its stake in shares of Alphabet by 13.7% in the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after buying an additional 2,026 shares during the period. Berkshire Money Management Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $359,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its stake in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOOGL shares. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, August 30th. Mizuho raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Finally, Tigress Financial raised their price objective on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, May 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Up 1.8 %

Alphabet stock opened at $157.46 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average price is $167.46 and its two-hundred day moving average price is $164.67. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the firm earned $1.44 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,367 shares of company stock worth $30,016,931. 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.