Crew Capital Management Ltd. Has $2.21 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Crew Capital Management Ltd. increased its holdings in Alphabet Inc. by 58.8%, now owning $2.21 million worth of shares, making it the investment firm's 14th largest position.
• Recent insider trades included CEO Sundar Pichai selling 32,500 shares and another insider, John Kent Walker, selling 23,820 shares, indicating a reduction in their ownership stakes.
• Alphabet's stock trades at $245.79, with a market cap of $2.97 trillion and a 12-month earnings per share estimate of 8.9, illustrating the company's strong financial position despite recent insider selling.

Crew Capital Management Ltd. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 58.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,545 shares of the information services provider's stock after purchasing an additional 4,645 shares during the period. Alphabet accounts for 1.6% of Crew Capital Management Ltd.'s investment portfolio, making the stock its 14th biggest holding. Crew Capital Management Ltd.'s holdings in Alphabet were worth $2,211,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC purchased a new position in Alphabet in the first quarter valued at about $4,317,606,000. GAMMA Investing LLC grew its stake in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after acquiring an additional 7,774,811 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 over the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet Stock Down 0.5%

Shares of GOOGL stock opened at $245.79 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.97 trillion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The stock has a 50 day moving average of $214.70 and a 200-day moving average of $182.46.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Sanford C. Bernstein increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Loop Capital reissued a "hold" rating and set a $190.00 target price (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. DA Davidson raised their target price on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Finally, Piper Sandler increased their price objective on Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $232.90.

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.

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