Crestone Asset Management LLC Trims Position in Alphabet Inc. (NASDAQ:GOOG)



Crestone Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 629 shares of the information services provider’s stock after selling 11 shares during the quarter. Crestone Asset Management LLC’s holdings in Alphabet were worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lincoln Capital LLC grew its stake in shares of Alphabet by 0.6% during the 4th quarter. Lincoln Capital LLC now owns 671 shares of the information services provider shares’s stock worth $1,942,000 after purchasing an additional 4 during the period. Seascape Capital Management grew its stake in shares of Alphabet by 1.5% during the 4th quarter. Seascape Capital Management now owns 279 shares of the information services provider shares’s stock worth $807,000 after purchasing an additional 4 during the period. Woodward Diversified Capital LLC grew its stake in shares of Alphabet by 0.8% during the 4th quarter. Woodward Diversified Capital LLC now owns 509 shares of the information services provider’s stock worth $1,473,000 after purchasing an additional 4 shares during the period. Valley Brook Capital Group Inc. Its stake grew in shares of Alphabet by 2.5% during the 4th quarter. Valley Brook Capital Group Inc. now owns 166 shares of the information services provider’s stock worth $480,000 after purchasing an additional 4 shares during the period. Finally, Roffman Miller Associates Inc. PA grew its stake in shares of Alphabet by 0.4% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 901 shares of the information services provider’s stock worth $2,607,000 after purchasing an additional 4 during the period. 31.20% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on the stock. Raymond James dropped their objective price on shares of Alphabet from $3,630.00 to $3,180.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft dropped their objective price on shares of Alphabet from $3,150.00 to $2,900.00 in a research note on Wednesday, April 27th. Tigress Financial lifted their price target on shares of Alphabet from $3,540.00 to $3,670.00 in a research note on Friday, March 18th. Canaccord Genuity Group dropped their price target on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research note on Wednesday, April 27th. Finally, Wedbush reissued an “outperform” rating on shares of Alphabet in a research note on Wednesday, April 20th. Twenty-nine analysts have rated the stock with a buy rating, according to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $3,315.38.

NASDAQ GOOG opened at $2,181.62 on Friday. Alphabet Inc. has a 52 week low of $2,044.16 and a 52 week high of $3,042.00. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $2,270.13 and its 200-day simple moving average is $2,568.66. The firm has a market cap of $1.44 trillion, a PE ratio of 19.73, a P/E/G ratio of 1.16 and a beta of 1.13.

Alphabet shares are going to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.70 by ($1.08). The company had revenue of $56.02 billion during the quarter, compared to analysts’ expectations of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter last year, the firm posted $26.29 earnings per share. Research analysts expect that Alphabet Inc. will post 110.83 EPS for the current year.

In related news, SVP Prabhakar Raghavan sold 1,276 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $2,816.49, for a total value of $3,593,841.24. Following the sale, the senior vice president now directly owns 14,034 shares in the company, valued at approximately $39,526,620.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now owns 565 shares in the company, valued at $1,346,575.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 552,804 shares of company stock worth $27,991,403. 12.99% of the stock is owned by insiders.

Alphabet Profile (Get Rating)

Alphabet Inc provides 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 Pets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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 – Get Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)



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