Crescent Grove Advisors LLC Has $664,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Mar 23rd, 2023

Crescent Grove Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 114.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,521 shares of the information services provider’s stock after buying an additional 4,021 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Alphabet were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. DC Investments Management LLC bought a new position in Alphabet during the first quarter worth $114,000. Bridgefront Capital LLC bought a new position in Alphabet during the first quarter worth $225,000. Worth Asset Management LLC bought a new position in Alphabet during the first quarter worth $206,000. Eudaimonia Advisors LLC increased its position in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new position in Alphabet during the first quarter worth $281,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. KeyCorp dropped their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Wednesday, March 8th. Bank of America boosted their price target on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. MKM Partners boosted their price target on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.83.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the director now directly owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the transaction, the director now directly owns 144,740 shares of the company’s stock, valued at $14,474,000. The disclosure for this sale can be found here. In the last three months, insiders sold 74,245 shares of company stock valued at $7,174,078. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $103.37 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a market cap of $1.32 trillion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.40 and a beta of 1.09. The stock has a 50-day moving average of $95.91 and a 200-day moving average of $96.07. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. During the same period last year, the company earned $1.53 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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