NorthCrest Asset Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.7% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 12,311 shares of the information services provider after buying an additional 772 shares during the period. Alphabet represents 1.6% of NorthCrest Asset Management LLC’s portfolio, making the stock its 5th largest holding. NorthCrest Asset Management LLC’s holdings in Alphabet were worth $34,241,000 at the end of the last reporting period.

Other institutional investors have also recently increased or reduced their stake in the company. Morling Financial Advisors LLC acquired a new position in Alphabet stock during Q4 for a value of approximately $29,000. West Bancorporation Inc. acquired a new position in Alphabet stock during Q4 worth approximately $29,000. Wealthgate Family Office LLC acquired a new position in Alphabet stock during Q4 for a value of approximately $32,000. NS Partners Ltd purchased a new stake in Alphabet shares during Q4 for a value of approximately $41,000. Finally, Schubert & Co purchased a new equity stake in Alphabet during Q4 for a value of approximately $43,000. Institutional investors hold 41.70% of the company’s shares.

Several analysts have recently commented on the stock. Mizuho cut its price target on Alphabet shares from $3,600.00 to $3,500.00 and set a “buy” rating for the company in a Wednesday, April 27 report. Stifel Nicolaus cut his price target on Alphabet shares from $3,500.00 to $3,100.00 and set a “buy” rating for the company in a Wednesday, April 27 report. JPMorgan Chase & Co. cut its price target on Alphabet shares from $3,200.00 to $2,800.00 and set an “overweight” rating for the company in a report released Wednesday. Wedbush reduced its price target on Alphabet shares from $3,800.00 to $3,113.00 in a report on Wednesday, April 27. Finally, MKM Partners cut its price target on Alphabet shares from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a Thursday, April 14 report. One investment analyst gave the stock a hold rating, thirty-four gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average target price of $3,280.30.

Separately, director Brin Sergey sold 2,639 shares of the company in a transaction on Monday, April 11. The shares were sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the sale, the director now directly owns 18,599,842 shares of the company, valued at approximately $48,959,992,099.76. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, 2016 major shareholder Gp LLC Gv sold 544,249 shares of the company in a transaction on Monday, April 11. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 550,377 shares of the company valued at $21,903,644. Company insiders hold 11.44% of the company’s shares.

Shares of NASDAQ GOOGL opened at $2,234.03 on Thursday. The company has a debt ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. Alphabet Inc. has a 52-week low of $2,037.69 and a 52-week high of $3,030.93. The company has a 50-day moving average price of $2,272.68 and a two-hundred-day moving average price of $2,575.56. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 20.21, a price-to-earnings growth ratio of 1.15 and a beta of 1.13.

Alphabet shares are set to split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be distributed to shareholders after market close on Friday July 15.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly results on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $24.62 for the quarter, missing the consensus estimate of $25.70 per ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. In the same quarter last year, the company posted earnings per share of $26.29. Analysts expect Alphabet Inc. to post earnings per share of 110.83 for the current fiscal year.

Alphabetical Profile (Get an assessment)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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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