Crestwood Advisors Group LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,838 shares of the information services provider’s stock after selling 1,357 shares during the quarter. Alphabet comprises about 1.4% of Crestwood Advisors Group LLC’s portfolio, making the stock its 18th biggest holding. Crestwood Advisors Group LLC’s holdings in Alphabet were worth $43,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management lifted its position in Alphabet by 16.0% during the third quarter. LSV Asset Management now owns 2,610 shares of the information services provider’s stock worth $3,835,000 after purchasing an additional 360 shares during the period. Sequoia Financial Advisors LLC increased its stake in Alphabet by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $6,500,000 after acquiring an additional 153 shares during the last quarter. Spectrum Wealth Advisory Group LLC acquired a new position in Alphabet during the third quarter valued at approximately $352,000. MAI Capital Management lifted its stake in Alphabet by 0.9% during the third quarter. MAI Capital Management now owns 39,506 shares of the information services provider’s stock worth $58,059,000 after purchasing an additional 351 shares during the last quarter. Finally, Baskin Financial Services Inc. boosted its holdings in shares of Alphabet by 2.9% in the 3rd quarter. Baskin Financial Services Inc. now owns 22,626 shares of the information services provider’s stock valued at $33,251,000 after purchasing an additional 636 shares in the last quarter. 31.94% of the stock is currently owned by hedge funds and other institutional investors.

In other Alphabet news, SVP Philipp Schindler sold 1,385 shares of the firm’s stock in a transaction on Wednesday, December 30th. The shares were sold at an average price of $1,762.01, for a total value of $2,440,383.85. Following the completion of the sale, the senior vice president now directly owns 19,950 shares in the company, valued at $35,152,099.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 22 shares of the firm’s stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $1,774.37, for a total transaction of $39,036.14. Following the completion of the sale, the director now owns 1,144 shares of the company’s stock, valued at $2,029,879.28. The disclosure for this sale can be found here. Insiders sold a total of 2,999 shares of company stock valued at $5,434,607 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Shares of NASDAQ:GOOG traded down $15.07 during midday trading on Tuesday, reaching $2,049.81. The company’s stock had a trading volume of 66,303 shares, compared to its average volume of 1,637,658. Alphabet Inc. has a fifty-two week low of $1,013.54 and a fifty-two week high of $2,152.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. The firm has a 50 day moving average price of $1,922.66 and a two-hundred day moving average price of $1,706.52. The firm has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 38.82, a PEG ratio of 1.66 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $15.91 by $6.39. The business had revenue of $56.90 billion during the quarter, compared to the consensus estimate of $52.86 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the previous year, the company posted $15.35 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 52.19 earnings per share for the current year.

GOOG has been the topic of several research reports. Jefferies Financial Group boosted their price target on Alphabet from $2,150.00 to $2,400.00 in a report on Wednesday, February 3rd. Mizuho boosted their target price on shares of Alphabet from $2,100.00 to $2,350.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Robert W. Baird raised their price target on shares of Alphabet from $1,675.00 to $1,725.00 in a research note on Friday, October 30th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $2,390.00 price objective (up previously from $2,050.00) on shares of Alphabet in a research note on Wednesday, February 3rd. Finally, Wedbush increased their price objective on Alphabet from $2,150.00 to $2,470.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $2,184.71.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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