RiverPark Advisors LLC Has $11.78 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

RiverPark Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,692 shares of the information services provider’s stock after selling 103 shares during the quarter. Alphabet makes up 1.9% of RiverPark Advisors LLC’s portfolio, making the stock its 22nd biggest position. RiverPark Advisors LLC’s holdings in Alphabet were worth $11,775,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOOG. Silverleafe Capital Partners LLC raised its position in Alphabet by 2.8% in the first quarter. Silverleafe Capital Partners LLC now owns 181 shares of the information services provider’s stock valued at $374,000 after purchasing an additional 5 shares during the last quarter. Alliance Wealth Advisors LLC raised its position in Alphabet by 2.7% in the first quarter. Alliance Wealth Advisors LLC now owns 190 shares of the information services provider’s stock valued at $393,000 after purchasing an additional 5 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position in Alphabet by 0.6% in the first quarter. GPS Wealth Strategies Group LLC now owns 814 shares of the information services provider’s stock valued at $1,683,000 after purchasing an additional 5 shares during the last quarter. Triton Wealth Management PLLC raised its position in Alphabet by 3.8% in the first quarter. Triton Wealth Management PLLC now owns 136 shares of the information services provider’s stock valued at $303,000 after purchasing an additional 5 shares during the last quarter. Finally, Lenox Wealth Advisors LLC raised its position in Alphabet by 1.0% in the first quarter. Lenox Wealth Advisors LLC now owns 505 shares of the information services provider’s stock valued at $1,045,000 after purchasing an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 31.70% of the company’s stock.

In other Alphabet news, CAO Amie Thuener O’toole sold 18 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $2,400.00, for a total value of $43,200.00. Following the completion of the sale, the chief accounting officer now owns 979 shares of the company’s stock, valued at $2,349,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $2,614.63, for a total value of $7,843,890.00. Following the completion of the transaction, the chief executive officer now owns 5,182 shares in the company, valued at approximately $13,549,012.66. The disclosure for this sale can be found here. Insiders sold 69,312 shares of company stock valued at $166,477,588 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet stock traded up $10.19 during mid-day trading on Thursday, reaching $2,662.20. The stock had a trading volume of 12,464 shares, compared to its average volume of 960,300. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 3.09. Alphabet Inc. has a fifty-two week low of $1,406.55 and a fifty-two week high of $2,659.92. The company has a 50-day simple moving average of $2,495.21. The stock has a market cap of $1.78 trillion, a price-to-earnings ratio of 35.41, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, beating the Zacks’ consensus estimate of $15.74 by $10.55. Alphabet had a return on equity of 23.54% and a net margin of 26.11%. The firm had revenue of $55.30 billion during the quarter, compared to analysts’ expectations of $51.40 billion. During the same quarter last year, the firm posted $9.87 earnings per share. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. As a group, equities research analysts expect that Alphabet Inc. will post 90.17 earnings per share for the current year.

GOOG has been the subject of several research reports. Evercore ISI reiterated an “outperform” rating and issued a $2,525.00 target price on shares of Alphabet in a research report on Tuesday, April 13th. Canaccord Genuity increased their price target on Alphabet from $2,400.00 to $2,600.00 and gave the company a “buy” rating in a research note on Monday, April 26th. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a research note on Thursday, May 20th. Citigroup cut Alphabet from a “buy” rating to a “neutral” rating in a research note on Monday, May 10th. Finally, Raymond James increased their price target on Alphabet from $2,440.00 to $2,750.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $2,527.00.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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