Park Place Capital Corp Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Park Place Capital Corp raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 47.7% during the third quarter, Holdings Channel.com reports. The firm owned 5,877 shares of the information services provider’s stock after purchasing an additional 1,897 shares during the quarter. Park Place Capital Corp’s holdings in Alphabet were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Unigestion Holding SA grew its holdings in shares of Alphabet by 8.1% in the 4th quarter. Unigestion Holding SA now owns 11,322 shares of the information services provider’s stock worth $1,596,000 after acquiring an additional 851 shares during the period. VitalStone Financial LLC grew its holdings in Alphabet by 40.5% in the fourth quarter. VitalStone Financial LLC now owns 1,089 shares of the information services provider’s stock valued at $153,000 after purchasing an additional 314 shares during the last quarter. Visionary Wealth Advisors increased its position in shares of Alphabet by 6.2% in the fourth quarter. Visionary Wealth Advisors now owns 17,099 shares of the information services provider’s stock valued at $2,410,000 after buying an additional 1,005 shares in the last quarter. Rench Wealth Management Inc. raised its stake in shares of Alphabet by 0.8% during the 4th quarter. Rench Wealth Management Inc. now owns 46,421 shares of the information services provider’s stock worth $6,542,000 after buying an additional 352 shares during the last quarter. Finally, Ethic Inc. boosted its position in shares of Alphabet by 4.5% in the 4th quarter. Ethic Inc. now owns 366,679 shares of the information services provider’s stock worth $51,676,000 after buying an additional 15,905 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $165.70 on Wednesday. The company has a market cap of $2.05 trillion, a P/E ratio of 25.41, a P/E/G ratio of 1.21 and a beta of 1.04. The firm’s 50 day moving average is $163.40 and its two-hundred day moving average is $169.02. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. UBS Group reduced their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday. Pivotal Research started coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.11.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,592 shares of company stock worth $35,922,911. Company insiders own 12.99% of the company’s stock.

Alphabet 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.