Crescent Grove Advisors LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Crescent Grove Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,018 shares of the information services provider’s stock after selling 1,614 shares during the period. Crescent Grove Advisors LLC’s holdings in Alphabet were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Alphabet in the third quarter valued at about $634,465,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Alphabet in the third quarter valued at about $601,545,000. Finally, Lone Pine Capital LLC purchased a new stake in shares of Alphabet in the third quarter valued at about $407,367,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. In the last three months, insiders sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $158.26 on Wednesday. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The firm has a fifty day moving average of $146.69 and a 200-day moving average of $140.93. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 27.29, a PEG ratio of 1.42 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period last year, the business earned $1.05 EPS. As a group, analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. Citigroup reaffirmed a “buy” rating and issued a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. UBS Group upped their price objective on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. BMO Capital Markets reissued an “outperform” rating and set a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.71.

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.