Alphabet Inc. (NASDAQ:GOOG) Stake Reduced by Riverpark Capital Management LLC

Riverpark Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 22.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,568 shares of the information services provider’s stock after selling 452 shares during the quarter. Alphabet comprises about 2.4% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Riverpark Capital Management LLC’s holdings in Alphabet were worth $4,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. SWS Partners purchased a new position in Alphabet in the 1st quarter worth about $28,000. IAG Wealth Partners LLC grew its stake in Alphabet by 120.0% during the 1st quarter. IAG Wealth Partners LLC now owns 11 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 6 shares in the last quarter. Rather & Kittrell Inc. purchased a new position in Alphabet during the 4th quarter valued at about $34,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in Alphabet during the 4th quarter valued at about $37,000. Finally, Avion Wealth grew its stake in Alphabet by 142.9% during the 1st quarter. Avion Wealth now owns 17 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 10 shares in the last quarter. 31.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOG shares. Piper Sandler lowered their target price on Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. The Goldman Sachs Group set a $150.00 target price on Alphabet in a research note on Wednesday, July 27th. Citigroup lowered their target price on Alphabet from $158.75 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 14th. MKM Partners lowered their price target on Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Finally, Cowen lowered their price target on Alphabet from $300.00 to $150.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $158.40.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $118.22 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $102.21 and a 12 month high of $152.10. The stock has a 50 day moving average of $156.19 and a 200-day moving average of $138.46. The company has a market capitalization of $1.56 trillion, a P/E ratio of 21.99, a P/E/G ratio of 1.92 and a beta of 1.07.

Alphabet (NASDAQ:GOOGGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $26.24 by ($25.03). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period last year, the firm earned $27.26 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.22 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at approximately $3,484,117.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the sale, the senior vice president now owns 1,608 shares in the company, valued at approximately $3,484,117.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $2,298.63, for a total value of $96,542.46. Following the sale, the chief accounting officer now owns 1,181 shares in the company, valued at approximately $2,714,682.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,383 shares of company stock valued at $15,761,666. Insiders own 12.99% of the company’s stock.

Alphabet Profile

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Alphabet Inc provides 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 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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