Congress Park Capital LLC Has $10.45 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Congress Park Capital LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 1st quarter, HoldingsChannel reports. The firm owned 69,249 shares of the information services provider’s stock after selling 1,067 shares during the period. Alphabet comprises about 4.6% of Congress Park Capital LLC’s investment portfolio, making the stock its 2nd largest holding. Congress Park Capital LLC’s holdings in Alphabet were worth $10,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. RWQ Financial Management Services Inc. raised its stake in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management raised its position in shares of Alphabet by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after acquiring an additional 76,410 shares in the last quarter. Robbins Farley lifted its stake in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares during the last quarter. Nebula Research & Development LLC bought a new stake in Alphabet during the fourth quarter valued at about $787,000. Finally, Quantum Financial Advisors LLC grew its stake in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on GOOGL shares. JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein increased their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price (down from $182.00) on shares of Alphabet in a research note on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.66.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $182.15 on Friday. 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 firm has a market cap of $2.25 trillion, a PE ratio of 27.94, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a one year low of $115.35 and a one year high of $186.05. The firm has a fifty day moving average of $172.85 and a 200 day moving average of $154.29.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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.