Crew Capital Management Ltd. Acquires 4,645 Shares of Alphabet Inc. $GOOGL

Crew Capital Management Ltd. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 58.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,545 shares of the information services provider’s stock after buying an additional 4,645 shares during the quarter. Alphabet comprises approximately 1.6% of Crew Capital Management Ltd.’s portfolio, making the stock its 14th largest holding. Crew Capital Management Ltd.’s holdings in Alphabet were worth $2,211,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. grew its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its holdings in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC boosted its position in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC grew its stake in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOGL. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Guggenheim increased their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, KeyCorp increased their target price on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.90.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock worth $52,405,304. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $245.79 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The stock has a market capitalization of $2.97 trillion, a P/E ratio of 26.18, a P/E/G ratio of 1.67 and a beta of 1.01. The business has a 50-day moving average price of $214.70 and a two-hundred day moving average price of $182.46.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

About Alphabet

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.