Cresset Asset Management LLC Purchases 10,901 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cresset Asset Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,607,418 shares of the information services provider’s stock after acquiring an additional 10,901 shares during the period. Alphabet accounts for approximately 1.3% of Cresset Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Cresset Asset Management LLC’s holdings in Alphabet were worth $224,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Unigestion Holding SA lifted its holdings in shares of Alphabet by 10.8% in the fourth quarter. Unigestion Holding SA now owns 14,182 shares of the information services provider’s stock worth $1,981,000 after buying an additional 1,381 shares in the last quarter. C Partners Holding GmbH lifted its holdings in shares of Alphabet by 22.1% in the fourth quarter. C Partners Holding GmbH now owns 173,429 shares of the information services provider’s stock worth $24,226,000 after buying an additional 31,351 shares in the last quarter. KPP Advisory Services LLC lifted its holdings in shares of Alphabet by 8.5% in the fourth quarter. KPP Advisory Services LLC now owns 11,054 shares of the information services provider’s stock worth $1,544,000 after buying an additional 865 shares in the last quarter. American Trust Investment Advisors LLC lifted its holdings in shares of Alphabet by 263.4% in the fourth quarter. American Trust Investment Advisors LLC now owns 41,293 shares of the information services provider’s stock worth $5,768,000 after buying an additional 29,931 shares in the last quarter. Finally, Sollinda Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth $363,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $149.50, for a total transaction of $74,750.00. Following the completion of the transaction, the director now directly owns 8,791 shares of the company’s stock, valued at approximately $1,314,254.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 157,458 shares of company stock valued at $25,538,973 in the last three months. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 0.3 %

NASDAQ:GOOGL opened at $175.01 on Tuesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $178.77. The stock has a market capitalization of $2.16 trillion, a P/E ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s 50-day simple moving average is $166.20 and its 200-day simple moving average is $149.98.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the business earned $1.17 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.6 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, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, June 10th.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Loop Capital upped their price target on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Raymond James upped their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $191.57.

Read Our Latest Stock Report on GOOGL

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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