RiverPark Advisors LLC Has $11.24 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

RiverPark Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 27.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,025 shares of the information services provider’s stock after selling 1,518 shares during the period. Alphabet comprises approximately 2.1% of RiverPark Advisors LLC’s holdings, making the stock its 13th largest holding. RiverPark Advisors LLC’s holdings in Alphabet were worth $11,242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Shilanski & Associates Inc. boosted its holdings in shares of Alphabet by 1.8% during the first quarter. Shilanski & Associates Inc. now owns 450 shares of the information services provider’s stock worth $1,257,000 after purchasing an additional 8 shares during the period. Minot Wealth Management LLC raised its position in Alphabet by 3.9% during the first quarter. Minot Wealth Management LLC now owns 721 shares of the information services provider’s stock valued at $2,014,000 after acquiring an additional 27 shares in the last quarter. Thomasville National Bank raised its position in Alphabet by 2.0% during the first quarter. Thomasville National Bank now owns 13,586 shares of the information services provider’s stock valued at $37,946,000 after acquiring an additional 261 shares in the last quarter. Mcrae Capital Management Inc. raised its position in Alphabet by 6.7% during the first quarter. Mcrae Capital Management Inc. now owns 111 shares of the information services provider’s stock valued at $310,000 after acquiring an additional 7 shares in the last quarter. Finally, InTrack Investment Management Inc raised its position in Alphabet by 23.7% during the first quarter. InTrack Investment Management Inc now owns 919 shares of the information services provider’s stock valued at $2,568,000 after acquiring an additional 176 shares in the last quarter. 31.20% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.5 %

GOOG opened at $118.22 on Friday. Alphabet Inc. has a fifty-two week low of $102.21 and a fifty-two week high of $152.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The firm’s fifty day moving average price is $156.19 and its two-hundred day moving average price is $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 posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company posted $27.26 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.22 EPS for the current year.

Insider Activity

In other news, Director John L. Hennessy sold 31 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total value of $70,710.38. Following the sale, the director now owns 265 shares in the company, valued at approximately $604,459.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the acquisition, the insider now directly owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 31 shares of Alphabet stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the transaction, the director now directly owns 265 shares of the company’s stock, valued at $604,459.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,383 shares of company stock worth $15,761,666. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOG. Itau BBA Securities began coverage on shares of Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating on the stock. Guggenheim cut their price objective on shares of Alphabet to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Evercore ISI cut their price objective on shares of Alphabet from $165.00 to $155.50 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. JPMorgan Chase & Co. set a $140.00 price target on shares of Alphabet in a research report on Thursday, July 21st. Finally, Raymond James dropped their price target on shares of Alphabet from $181.50 to $159.00 in a research report on Wednesday, April 27th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.40.

Alphabet Company 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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Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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