Towercrest Capital Management Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Towercrest Capital Management lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 88.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,021 shares of the information services provider’s stock after purchasing an additional 1,890 shares during the quarter. Towercrest Capital Management’s holdings in Alphabet were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GOOG. Woodward Diversified Capital LLC boosted its position in shares of Alphabet by 0.7% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after acquiring an additional 62 shares in the last quarter. Intergy Private Wealth LLC boosted its position in shares of Alphabet by 1.9% in the 1st quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock valued at $517,000 after purchasing an additional 63 shares during the period. Smith Anglin Financial LLC boosted its position in shares of Alphabet by 2.0% in the 1st quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock valued at $491,000 after purchasing an additional 64 shares during the period. Biechele Royce Advisors boosted its position in shares of Alphabet by 3.0% in the 1st quarter. Biechele Royce Advisors now owns 2,260 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 65 shares during the period. Finally, Fiduciary Alliance LLC boosted its position in shares of Alphabet by 1.4% in the 1st quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock valued at $762,000 after purchasing an additional 67 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders sold a total of 146,988 shares of company stock valued at $26,068,355 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock traded up $0.17 during mid-day trading on Friday, hitting $179.39. 14,485,899 shares of the company were exchanged, compared to its average volume of 15,891,877. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The business’s 50 day simple moving average is $180.37 and its two-hundred day simple moving average is $160.65. The company has a market capitalization of $2.22 trillion, a P/E ratio of 27.51, a PEG ratio of 1.34 and a beta of 1.05. Alphabet Inc. has a 12-month low of $118.68 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $174.38.

About Alphabet

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.