Crestwood Advisors Group LLC Buys 26,187 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Crestwood Advisors Group LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 799,135 shares of the information services provider's stock after purchasing an additional 26,187 shares during the period. Alphabet comprises about 2.3% of Crestwood Advisors Group LLC's holdings, making the stock its 6th largest holding. Crestwood Advisors Group LLC's holdings in Alphabet were worth $123,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at about $39,000. Elite Financial Inc. acquired a new position in Alphabet in the 1st quarter valued at about $42,000. Anderson Financial Strategies LLC acquired a new position in Alphabet in the 4th quarter valued at about $49,000. Finally, EQ Wealth Advisors LLC acquired a new position in Alphabet in the 1st quarter valued at about $49,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price target on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Sanford C. Bernstein upped their price target on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Needham & Company LLC upped their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Susquehanna increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $211.39.

Alphabet Stock Down 1.6%

Shares of GOOGL stock traded down $3.09 during trading hours on Friday, hitting $188.81. 17,717,821 shares of the company were exchanged, compared to its average volume of 37,048,895. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The business's 50-day simple moving average is $177.91 and its two-hundred day simple moving average is $173.12. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.33 and a beta of 1.00.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock worth $43,525,794 in the last three months. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Company 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.