Crestwood Advisors Group LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOG)


Share on StockTwits

Crestwood Advisors Group LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 24,838 shares of the information services provider’s stock after selling 1,357 shares during the period. Alphabet makes up approximately 1.4% of Crestwood Advisors Group LLC’s portfolio, making the stock its 18th biggest position. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $43,514,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Magnolia Capital Advisors LLC grew its position in shares of Alphabet by 57.2% during the 3rd quarter. Magnolia Capital Advisors LLC now owns 294 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 107 shares in the last quarter. Stephenson National Bank & Trust grew its position in Alphabet by 200.0% during the third quarter. Stephenson National Bank & Trust now owns 30 shares of the information services provider’s stock worth $44,000 after buying an additional 20 shares in the last quarter. Chiron Capital Management LLC bought a new position in Alphabet in the 3rd quarter worth about $44,000. Clearview Wealth Advisors LLC bought a new stake in shares of Alphabet during the 4th quarter worth $44,000. Finally, Clear Perspectives Financial Planning LLC purchased a new position in Alphabet in the fourth quarter worth $44,000. Institutional investors own 31.94% of the company’s stock.

Several brokerages have issued reports on GOOG. Raymond James lifted their price target on Alphabet from $1,800.00 to $2,440.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. They noted that the move was a valuation call. Oppenheimer restated a “buy” rating and issued a $1,800.00 target price on shares of Alphabet in a research report on Friday, October 30th. Morgan Stanley increased their price target on shares of Alphabet from $2,050.00 to $2,200.00 and gave the company an “overweight” rating in a research report on Wednesday, February 3rd. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Alphabet from $2,250.00 to $2,600.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $2,184.71.

GOOG traded down $15.07 during midday trading on Tuesday, reaching $2,049.81. 66,303 shares of the company’s stock traded hands, compared to its average volume of 1,637,658. Alphabet Inc. has a 52 week low of $1,013.54 and a 52 week high of $2,152.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.41 and a quick ratio of 3.39. The firm has a fifty day moving average of $1,922.66 and a two-hundred day moving average of $1,706.52. The stock has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 1.66 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $15.91 by $6.39. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm had revenue of $56.90 billion for the quarter, compared to analysts’ expectations of $52.86 billion. During the same period in the previous year, the firm earned $15.35 earnings per share. The business’s revenue was up 23.5% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 52.19 EPS for the current year.

In other news, CAO Amie Thuener O’toole sold 30 shares of Alphabet stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $1,764.42, for a total transaction of $52,932.60. Following the sale, the chief accounting officer now owns 846 shares of the company’s stock, valued at approximately $1,492,699.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 70 shares of the business’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $2,085.54, for a total transaction of $145,987.80. Following the transaction, the director now owns 41 shares in the company, valued at approximately $85,507.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,999 shares of company stock worth $5,434,607. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Featured Article: How is a Moving Average Calculated?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.