Ridgecrest Wealth Partners LLC holds $9.81 million stake in Alphabet Inc. (NASDAQ:GOOGL)


Ridgecrest Wealth Partners LLC increased its position in Alphabet Inc. (NASDAQ: GOOGLGet a rating) by 0.5% in Q1, according to the company in its latest filing with the Securities and Exchange Commission. The fund held 3,527 shares of the information services provider after buying an additional 16 shares during the period. Alphabet represents about 6.2% of Ridgecrest Wealth Partners LLC’s holdings, making the stock its second-largest position. Ridgecrest Wealth Partners LLC’s holdings in Alphabet were worth $9,811,000 at the end of the last quarter.

Other institutional investors and hedge funds have also been buying and selling shares of the company recently. Brave Asset Management Inc. raised its position in Alphabet by 0.6% in the fourth quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider worth $1,819,000 after buying 4 more shares last quarter. Smithbridge Asset Management Inc. DE increased its stake in Alphabet shares by 1.5% during the 4th quarter. Smithbridge Asset Management Inc. DE now owns 263 shares of the information services provider worth $762,000 after buying 4 more shares in the last quarter. Affinity Capital Advisors LLC increased its stake in Alphabet shares by 1.3% during the 4th quarter. Affinity Capital Advisors LLC now owns 310 shares of the information services provider worth $898,000 after buying 4 additional shares in the last quarter. Summit Financial Strategies Inc. increased its stake in Alphabet shares by 1.3% during the 4th quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider worth $933,000 after buying 4 additional shares in the last quarter. Finally, Palisades Hudson Asset Management LP increased its stake in Alphabet shares by 1.1% during the 4th quarter. Palisades Hudson Asset Management LP now owns 361 shares of the information services provider worth $1,046,000 after buying 4 additional shares in the last quarter. Institutional investors hold 41.70% of the company’s shares.

Alphabet trades up 1.3%

Shares of GOOGL Stock opened at $2,235.55 on Friday. Alphabet Inc. has a 12-month low of $2,037.69 and a 12-month high of $3,030.93. The company has a market capitalization of $1.47 trillion, a P/E ratio of 20.22, a P/E/G ratio of 1.12 and a beta of 1.10. The company has a 50-day moving average price of $154.79 and a 200-day moving average price of $140.84. The company has a quick ratio of 2.85, a current ratio of 2.87 and a leverage ratio of 0.06.

Alphabet shares will be split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly issued shares will be issued to shareholders after market close on Friday, July 15.

Alphabet (NASDAQ: GOOGLGet a rating) last announced its quarterly results on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $1.23 for the quarter, missing the consensus estimate of $1.28 per ($0.05). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company posted revenue of $56.02 billion for the quarter, versus a consensus estimate of $56.17 billion. In the same period a year earlier, the company had earned earnings per share of $1.31. Research analysts expect Alphabet Inc. to post earnings per share of 110.17 for the current fiscal year.

Analyst upgrades and downgrades

GOOGL has been the subject of several analyst reports. Mizuho lowered its price target on Alphabet shares from $180.00 to $175.00 and set a “buy” rating on the stock in a Wednesday, April 27 research note. StockNews.com downgraded Alphabet shares from a “buy” rating to a “hold” rating in a Friday, April 29 research note. Stifel Nicolaus lowered his price target on Alphabet shares from $175.00 to $155.00 and placed a “buy” rating on the stock in a Wednesday, April 27 research note. UBS Group lowered its price target on Alphabet shares from $180.00 to $132.50 and set a “buy” rating on the stock in a Thursday, June 16 research note. Finally, Morgan Stanley lowered its price target on Alphabet shares from $163.50 to $150.00 in a Wednesday, June 1 research note. One analyst rated the stock with a hold rating, thirty-four gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, Alphabet has an average rating of “Buy” and an average target price of $162.21.

Insiders place their bets

In related news, major shareholder 2021 Gp LLC Gv purchased 13,528 shares of the company in a transaction on Tuesday, May 24. The stock was purchased at an average cost of $33.72 per share, with a total value of $456,164.16. Following the completion of the purchase, the insider now owns 593,402 shares of the company, valued at approximately $20,009,515.44. The acquisition was disclosed in a legal filing with the SEC, available at this hyperlink. In related news, please Philip Schindler sold 3,834 shares of the company in a trade that took place on Tuesday, July 5. The shares were sold at an average price of $2,182.62, for a total transaction of $8,368,165.08. Following the completion of the transaction, the Senior Vice President now owns 12,676 shares of the company, valued at $27,666,891.12. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Additionally, major shareholder 2021 Gp LLC Gv purchased 13,528 shares of the company in a transaction on Tuesday, May 24. The stock was purchased at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the purchase, the insider now owns 593,402 shares of the company, valued at approximately $20,009,515.44. Disclosure of this purchase can be found here. In the past three months, insiders have sold 5,839 shares of the company valued at $12,873,739. Insiders hold 11.44% of the company’s shares.

About the alphabet

(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:GOOGL)



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