CRA Financial Services LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

CRA Financial Services LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,201 shares of the information services provider’s stock after purchasing an additional 757 shares during the quarter. Alphabet accounts for approximately 2.0% of CRA Financial Services LLC’s portfolio, making the stock its 12th largest holding. CRA Financial Services LLC’s holdings in Alphabet were worth $10,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter worth $30,000. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new position in Alphabet in the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOGL shares. Guggenheim upped their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, September 25th. Loop Capital reaffirmed a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research report on Monday, October 7th. Finally, Mizuho lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.76.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of Alphabet stock opened at $163.42 on Monday. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $161.77 and its 200 day moving average is $168.25. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the business earned $1.44 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.