NorthCrest Asset Manangement LLC Has $56.76 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

NorthCrest Asset Manangement LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 299,842 shares of the information services provider’s stock after selling 101 shares during the period. Alphabet makes up 1.7% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 6th biggest position. NorthCrest Asset Manangement LLC’s holdings in Alphabet were worth $56,760,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOGL. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter worth about $32,000. Denver PWM LLC bought a new stake in Alphabet during the second quarter worth about $41,000. Quarry LP bought a new stake in Alphabet during the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet in the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC boosted its holdings in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,887 shares of company stock worth $27,996,356. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.7 %

GOOGL stock traded down $1.40 during mid-day trading on Friday, reaching $192.55. The company had a trading volume of 11,548,713 shares, compared to its average volume of 21,814,010. The company has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The stock has a 50 day simple moving average of $182.20 and a two-hundred day simple moving average of $173.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.08.

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.