Crestwood Advisors Group LLC Sells 3,768 Shares of Alphabet Inc. (NASDAQ:GOOG)

Crestwood Advisors Group LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 366,591 shares of the information services provider’s stock after selling 3,768 shares during the period. Alphabet comprises 1.2% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 29th biggest position. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $61,289,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC grew its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Alphabet during the 2nd quarter worth $37,000. HWG Holdings LP acquired a new stake in Alphabet during the 2nd quarter worth $40,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet during the 2nd quarter worth $44,000. Finally, Hoese & Co LLP grew its holdings in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now owns 30,024 shares in the company, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now owns 30,024 shares in the company, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,552 shares of company stock worth $34,433,848. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOG shares. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. UBS Group boosted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Up 0.4 %

Shares of GOOG stock opened at $171.41 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s 50-day moving average is $163.97 and its 200-day moving average is $170.83. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the firm earned $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Alphabet 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.