Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Riverpark Capital Management LLC

Riverpark Capital Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 59.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,460 shares of the information services provider’s stock after selling 18,281 shares during the period. Alphabet makes up approximately 2.5% of Riverpark Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Riverpark Capital Management LLC’s holdings in Alphabet were worth $1,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Bornite Capital Management LP acquired a new stake in Alphabet during the first quarter worth about $16,688,000. Markel Corp increased its stake in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank increased its stake in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its holdings in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Stock Up 2.1 %

Alphabet stock opened at $123.48 on Friday. The company has a market capitalization of $1.57 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.54 and a beta of 1.10. The firm’s fifty day simple moving average is $108.64 and its 200-day simple moving average is $99.13. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $126.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter last year, the firm posted $1.23 EPS. Sell-side analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 732,217 shares of company stock worth $21,135,371 and have sold 753,384 shares worth $30,574,577. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Wolfe Research increased their price objective on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Citigroup increased their price objective on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Royal Bank of Canada increased their price objective on shares of Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Finally, KeyCorp decreased their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $130.56.

Alphabet Company Profile

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.