Alphabet Inc. (NASDAQ:GOOGL) is RiverPark Advisors LLC’s 4th Largest Position

RiverPark Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,730 shares of the information services provider’s stock after selling 487 shares during the period. Alphabet accounts for about 3.6% of RiverPark Advisors LLC’s investment portfolio, making the stock its 4th biggest position. RiverPark Advisors LLC’s holdings in Alphabet were worth $5,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $39,000. PayPay Securities Corp lifted its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC boosted its holdings in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $155.65 on Thursday. The firm’s fifty day simple moving average is $163.13 and its two-hundred day simple moving average is $175.47. The firm has a market capitalization of $1.90 trillion, a P/E ratio of 19.33, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the transaction, the chief executive officer now directly owns 2,685,196 shares of the company’s stock, valued at $419,320,207.36. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock worth $25,361,647 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Piper Sandler decreased their price target on Alphabet from $208.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. BMO Capital Markets reiterated an “outperform” rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Finally, DA Davidson decreased their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.64.

Alphabet Company Profile

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.