Congress Park Capital LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.5% in the first quarter, Holdings Channel reports. The institutional investor owned 2,962 shares of the information services provider’s stock after buying an additional 353 shares during the period. Alphabet accounts for 4.1% of Congress Park Capital LLC’s holdings, making the stock its 5th biggest holding. Congress Park Capital LLC’s holdings in Alphabet were worth $8,238,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of GOOGL. Norges Bank purchased a new position in Alphabet during the 4th quarter worth $14,477,662,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $1,680,864,000. Fundsmith LLP purchased a new position in shares of Alphabet in the 4th quarter valued at about $1,214,138,000. Invesco Ltd. increased its holdings in shares of Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after purchasing an additional 283,907 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares in the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s stock.
Alphabet Trading Up 1.8 %
Shares of GOOGL stock opened at $116.32 on Friday. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The firm’s 50 day moving average price is $154.46 and its two-hundred day moving average price is $138.74. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the previous year, the business posted $27.26 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.37 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GOOGL. JMP Securities cut their price target on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, June 30th. MKM Partners cut their price target on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a report on Monday, July 18th. Oppenheimer dropped their target price on shares of Alphabet to $155.00 and set an “outperform” rating for the company in a report on Wednesday. Moffett Nathanson dropped their target price on shares of Alphabet to $132.50 in a report on Thursday, May 26th. Finally, Credit Suisse Group dropped their target price on shares of Alphabet from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.29.
Insider Activity
In other news, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the purchase, the insider now directly owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the completion of the sale, the senior vice president now owns 497 shares in the company, valued at $1,160,644.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $34.65 per share, with a total value of $8,858,168.55. Following the purchase, the insider now owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The disclosure for this purchase can be found here. Insiders have sold 7,269 shares of company stock worth $12,792,226 over the last 90 days. Company insiders own 11.44% of the company’s stock.
About Alphabet
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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Read More: Alphabet Inc. (NASDAQ:GOOGL) is Congress Park Capital LLC’s 5th Largest Position