Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Crewe Advisors LLC

Posted by Defense World Staff on May 12th, 2023

Crewe Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 72.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,331 shares of the information services provider’s stock after purchasing an additional 8,933 shares during the period. Crewe Advisors LLC’s holdings in Alphabet were worth $1,882,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp lifted its position in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after buying an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Alphabet by 1,896.9% in the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after buying an additional 55,153,448 shares during the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL stock opened at $116.57 on Friday. The company has a market capitalization of $1.48 trillion, a P/E ratio of 25.96, a PEG ratio of 1.35 and a beta of 1.10. The company has a 50-day simple moving average of $103.23 and a 200 day simple moving average of $97.19. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.43. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the prior year, the company earned $1.23 EPS. Sell-side analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOGL. Raymond James lifted their price target on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. Credit Suisse Group dropped their price target on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, April 26th. UBS Group lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $130.00 price target on shares of Alphabet in a research note on Friday, February 10th. Three equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.06.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last three months, insiders acquired 732,217 shares of company stock valued at $21,135,371 and sold 238,811 shares valued at $15,576,939. 11.44% of the stock is owned by corporate insiders.

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.