Cromwell Holdings LLC Acquires 337 Shares of Alphabet Inc. $GOOGL

Cromwell Holdings LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,649 shares of the information services provider’s stock after purchasing an additional 337 shares during the quarter. Alphabet accounts for approximately 1.7% of Cromwell Holdings LLC’s investment portfolio, making the stock its 7th biggest position. Cromwell Holdings LLC’s holdings in Alphabet were worth $2,758,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. raised its position in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG raised its position in shares of Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOGL shares. KeyCorp lifted their price objective on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Piper Sandler lifted their price objective on Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Susquehanna boosted their target price on Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Morgan Stanley set a $270.00 price target on Alphabet and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Bank of America increased their price target on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.62.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $241.53 on Friday. The company has a market capitalization of $2.92 trillion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The business has a 50-day simple moving average of $225.37 and a two-hundred day simple moving average of $188.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Alphabet Profile

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