RiverPark Advisors LLC Sells 1,205 Shares of Alphabet Inc. (NASDAQ:GOOG)

RiverPark Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,552 shares of the information services provider’s stock after selling 1,205 shares during the period. Alphabet makes up 1.9% of RiverPark Advisors LLC’s holdings, making the stock its 16th largest position. RiverPark Advisors LLC’s holdings in Alphabet were worth $2,368,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Woodward Diversified Capital LLC boosted its position in Alphabet by 0.7% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock valued at $1,311,000 after acquiring an additional 62 shares in the last quarter. Intergy Private Wealth LLC lifted its stake in shares of Alphabet by 1.9% in the 1st quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock valued at $517,000 after purchasing an additional 63 shares during the period. Smith Anglin Financial LLC boosted its position in shares of Alphabet by 2.0% during the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock valued at $491,000 after purchasing an additional 64 shares in the last quarter. Fiduciary Alliance LLC grew its stake in Alphabet by 1.4% in the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after purchasing an additional 67 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in Alphabet by 0.8% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOG. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Finally, TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.38.

Alphabet Stock Up 0.6 %

Shares of GOOG traded up $1.07 on Wednesday, hitting $191.51. 2,724,901 shares of the stock traded hands, compared to its average volume of 20,717,674. The company has a market capitalization of $2.37 trillion, a PE ratio of 29.39, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a one year low of $115.83 and a one year high of $192.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50 day simple moving average of $177.92 and a 200 day simple moving average of $158.32.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,288 shares of company stock worth $25,345,053. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.