RiverPark Advisors LLC Sells 18,694 Shares of Alphabet Inc. (NASDAQ:GOOGL)

RiverPark Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 31.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,047 shares of the information services provider’s stock after selling 18,694 shares during the quarter. Alphabet comprises about 1.7% of RiverPark Advisors LLC’s investment portfolio, making the stock its 15th largest holding. RiverPark Advisors LLC’s holdings in Alphabet were worth $3,622,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares in the last quarter. State Street Corp grew its stake in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after buying an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after buying an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GOOGL shares. Wells Fargo & Company raised their price target on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. UBS Group raised their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. StockNews.com started coverage on shares of Alphabet in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Truist Financial raised their price target on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Wolfe Research raised their price target on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.56.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 732,217 shares of company stock valued at $21,135,371 and sold 753,384 shares valued at $30,574,577. 0.88% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $123.48 on Friday. The company has a fifty day moving average of $108.64 and a 200-day moving average of $99.13. The firm has a market capitalization of $1.57 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.54 and a beta of 1.10. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $126.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter last year, the firm posted $1.23 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.