Alphabet Inc. $GOOG Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,092 shares of the information services provider’s stock after buying an additional 1,919 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Alphabet were worth $19,703,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. Morse Asset Management Inc raised its position in shares of Alphabet by 3.3% in the 3rd quarter. Morse Asset Management Inc now owns 1,093 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 35 shares during the last quarter. Robinson Smith Wealth Advisors LLC grew its position in Alphabet by 1.8% during the 3rd quarter. Robinson Smith Wealth Advisors LLC now owns 2,070 shares of the information services provider’s stock worth $504,000 after purchasing an additional 36 shares during the last quarter. Searle & CO. grew its position in Alphabet by 0.6% during the 3rd quarter. Searle & CO. now owns 5,703 shares of the information services provider’s stock worth $1,389,000 after purchasing an additional 36 shares during the last quarter. Navellier & Associates Inc. increased its stake in Alphabet by 0.6% during the 3rd quarter. Navellier & Associates Inc. now owns 5,846 shares of the information services provider’s stock valued at $1,424,000 after purchasing an additional 36 shares in the last quarter. Finally, BankPlus Wealth Management LLC increased its stake in Alphabet by 1.2% during the 3rd quarter. BankPlus Wealth Management LLC now owns 3,143 shares of the information services provider’s stock valued at $766,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOG shares. Jefferies Financial Group reiterated a “buy” rating and set a $365.00 price objective on shares of Alphabet in a research note on Monday, January 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $375.00 target price on shares of Alphabet in a research report on Thursday, January 15th. UBS Group restated a “neutral” rating and issued a $348.00 target price (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $370.00 price target on shares of Alphabet in a research report on Tuesday, January 20th. Finally, Wedbush reiterated an “outperform” rating and set a $370.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $345.71.

Read Our Latest Research Report on GOOG

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $321.21, for a total transaction of $10,439,325.00. Following the completion of the transaction, the chief executive officer directly owned 2,244,372 shares in the company, valued at approximately $720,914,730.12. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the transaction, the director directly owned 4,631 shares of the company’s stock, valued at $1,405,091.71. The trade was a 18.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,110,165 shares of company stock worth $118,134,117. Corporate insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Down 3.3%

NASDAQ:GOOG opened at $289.20 on Wednesday. The firm has a market capitalization of $3.50 trillion, a P/E ratio of 26.75, a PEG ratio of 1.75 and a beta of 1.10. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $350.15. The company’s fifty day moving average price is $316.04 and its 200-day moving average price is $294.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The company had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion. During the same period in the previous year, the firm posted $2.15 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 7.77%.

Alphabet Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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