Cresset Asset Management LLC Sells 1,154 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cresset Asset Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 8.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,991 shares of the information services provider’s stock after selling 1,154 shares during the quarter. Cresset Asset Management LLC’s holdings in Alphabet were worth $33,351,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dravo Bay LLC bought a new position in Alphabet in the 1st quarter valued at about $28,000. Wealthgate Family Office LLC bought a new position in Alphabet in the 4th quarter valued at about $32,000. Joseph Group Capital Management bought a new position in Alphabet in the 4th quarter valued at about $2,040,000. Cordant Inc. bought a new position in Alphabet in the 1st quarter valued at about $56,000. Finally, Bivin & Associates Inc. bought a new position in Alphabet in the 4th quarter valued at about $70,000. 1.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Itaú Unibanco assumed coverage on shares of Alphabet in a report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price target on the stock. Rosenblatt Securities lifted their price target on shares of Alphabet from $154.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday. MKM Partners decreased their price target on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Mizuho decreased their price target on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. Finally, Moffett Nathanson decreased their price target on shares of Alphabet to $132.50 in a report on Thursday, May 26th. Five research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $147.41.

Alphabet Stock Performance

Shares of GOOGL stock opened at $110.65 on Friday. The firm has a market capitalization of $1.44 trillion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The firm has a fifty day simple moving average of $113.69 and a two-hundred day simple moving average of $119.73. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $101.88 and a 12 month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter last year, the firm posted $27.26 EPS. Analysts forecast that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $115.15, for a total value of $32,242.00. Following the completion of the sale, the director now owns 11,420 shares in the company, valued at approximately $1,315,013. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $115.15, for a total value of $32,242.00. Following the completion of the sale, the director now owns 11,420 shares in the company, valued at approximately $1,315,013. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 42 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the transaction, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at approximately $2,582,754.08. The disclosure for this sale can be found here. Insiders sold a total of 43,036 shares of company stock worth $15,564,998 in the last quarter. 11.44% of the stock is currently owned by corporate insiders.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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