RiverPark Advisors LLC Sells 487 Shares of Alphabet Inc. (NASDAQ:GOOGL)

RiverPark Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,730 shares of the information services provider’s stock after selling 487 shares during the quarter. Alphabet makes up about 3.6% of RiverPark Advisors LLC’s portfolio, making the stock its 4th biggest holding. RiverPark Advisors LLC’s holdings in Alphabet were worth $5,060,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bennett Selby Investments LP lifted its holdings in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares in the last quarter. Macroview Investment Management LLC lifted its stake in Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after acquiring an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its position in Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the period. Cornerstone Planning Group LLC grew its stake in Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOGL. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday. DA Davidson decreased their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Piper Sandler reduced their price objective on Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Roth Mkm restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.64.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the sale, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $155.65 on Thursday. The firm’s 50-day moving average is $163.13 and its 200-day moving average is $175.47. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

About Alphabet

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.