CRA Financial Services LLC strengthens its position in Alphabet Inc. (NASDAQ:GOOG)


CRA Financial Services LLC increased its stake in Alphabet Inc. (NASDAQ: GOOG – Get Rating) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The company held 1,440 shares of the information services provider after acquiring 59 additional shares during the quarter. Alphabet represents about 1.2% of CRA Financial Services LLC’s holdings, making the stock its 14th-largest position. CRA Financial Services LLC’s holdings in Alphabet were worth $4,022,000 when it last filed with the SEC.

Several other hedge funds and other institutional investors have also recently changed their stakes in GOOG. Hoese & Co LLP increased its stake in Alphabet shares by 400.0% during the 4th quarter. Hoese & Co LLP now owns 10 shares of the information services provider worth $29,000 after acquiring 8 additional shares in the last quarter. Maryland Capital Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth $29,000. Rather & Kittrell Inc. purchased a new stake in Alphabet during the fourth quarter for $34,000. Paragon Capital Management Ltd acquired a new stake in Alphabet during the fourth quarter worth $35,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Alphabet in the fourth quarter at a value of $37,000. Institutional investors hold 31.20% of the company’s shares.

A number of brokerages have published reports on GOOG. JPMorgan Chase & Co. cut its price target on Alphabet shares from $3,450.00 to $3,200.00 in a Wednesday, April 27 research report. Tigress Financial raised its price target on Alphabet from $3,540.00 to $3,670.00 in a Friday, March 18 research report. Raymond James lowered his target price on Alphabet from $3,630.00 to $3,180.00 in a Wednesday, April 27 report. Canaccord Genuity Group reduced its price target on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a Wednesday, April 27 report. Finally, Oppenheimer reissued an “outperform” rating and published a target price of $3,290.00 on Alphabet shares in a research note on Thursday, April 28. Twenty-nine analysts rated the stock with a buy rating. According to MarketBeat.com, the stock has a consensus buy rating and an average target price of $3,315.38.

Separately, director John L. Hennessy sold 33 shares of the company in a trade on Thursday, June 9. The shares were sold at an average price of $2,348.39, for a total value of $77,496.87. Following the transaction, the director now owns 78 shares of the company, valued at approximately $183,174.42. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. 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 three months, insiders have sold 551,675 shares of the company worth $25,567,428. Insiders own 12.99% of the shares of the company.

NASDAQ GOOG opened at $2,332.45 on Tuesday. The company has a market capitalization of $1.54 trillion, a price/earnings ratio of 21.10, a PEG ratio of 1.16 and a beta of 1.13. 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 one-year low of $2,044.16 and a one-year high of $3,042.00. The company’s 50-day moving average price is $2,294.15 and its 200-day moving average price is $2,586.15.

Alphabet shares are scheduled to split on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be distributed to shareholders after the closing bell on Friday July 15.

Alphabet (NASDAQ:GOOG – Get Rating) last released its results on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing analyst consensus estimates 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 $56.17 billion expected by analysts. During the same period a year earlier, the company posted EPS of $26.29. Sell-side analysts expect Alphabet Inc. to post EPS of 110.83 for the current fiscal year.

Alphabet Company Profile (Get a rating)

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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Institutional ownership by quarter for Alphabet (NASDAQ:GOOG)



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