Crestwood Advisors Group LLC Has $109.77 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Crestwood Advisors Group LLC trimmed its Alphabet stake by 1.3% in the fourth quarter, but still held 349,793 shares valued at about $109.8 million. Alphabet remained its 9th-largest holding and made up 1.8% of the portfolio.
• Alphabet posted a strong quarterly report, with EPS of $5.11 beating estimates and revenue rising 21.8% year over year to $109.9 billion. The company also said analysts now expect 14.29 EPS for the current year.
• The company raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly bullish with a consensus Buy rating and an average price target of $363.40.

Crestwood Advisors Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,793 shares of the information services provider's stock after selling 4,494 shares during the period. Alphabet comprises approximately 1.8% of Crestwood Advisors Group LLC's portfolio, making the stock its 9th biggest holding. Crestwood Advisors Group LLC's holdings in Alphabet were worth $109,765,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock valued at $24,240,469,000 after acquiring an additional 7,904,434 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Alphabet by 5.8% in the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider's stock valued at $9,749,864,000 after purchasing an additional 2,209,203 shares during the last quarter. Legal & General Group Plc lifted its stake in Alphabet by 0.7% in the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider's stock valued at $7,935,671,000 after purchasing an additional 223,743 shares during the last quarter. Finally, Capital World Investors lifted its stake in Alphabet by 1.9% in the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider's stock valued at $6,971,769,000 after purchasing an additional 539,679 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $393.32 on Friday. Alphabet Inc. has a one year low of $163.33 and a one year high of $399.93. The business has a fifty day moving average price of $327.44 and a 200-day moving average price of $316.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $4.77 trillion, a P/E ratio of 30.00, a PEG ratio of 1.68 and a beta of 1.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same period last year, the company earned $2.81 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio is 6.41%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 47,574 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the transaction, the insider directly owned 13,227 shares of the company's stock, valued at $3,987,279.15. This trade represents a 78.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 955 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the transaction, the chief accounting officer directly owned 9,918 shares of the company's stock, valued at $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 157,953 shares of company stock valued at $47,767,818. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOG shares. Cantor Fitzgerald reiterated a "neutral" rating on shares of Alphabet in a research note on Tuesday, January 20th. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a "buy" rating in a research note on Friday, March 13th. TD Cowen upped their price objective on Alphabet from $375.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Monday, April 20th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $400.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Buy" and a consensus price target of $363.40.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman's Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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