Alphabet Inc. (NASDAQ:GOOGL) is the 5th largest position of Congress Park Capital LLC
Congress Park Capital LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.5% in the first quarter, reports Holdings Channel. The institutional investor owned 2,962 shares of the information services provider after purchasing an additional 353 shares during the period. Alphabet represents 4.1% of Congress Park Capital LLC’s holdings, making the stock its 5th largest holding. Congress Park Capital LLC’s holdings in Alphabet were worth $8,238,000 when it last filed with the SEC.
A number of other large investors have also recently bought and sold shares of GOOGL. Norges Bank bought a new position in Alphabet during Q4 for a value of $14,477,662,000. Allspring Global Investments Holdings LLC bought a new position in Alphabet stock in Q4, valued at approximately $1,680,864,000. Fundsmith LLP bought a new position in Alphabet shares in Q4 worth approximately $1,214,138,000. Invesco Ltd. increased its holdings of Alphabet shares by 14.1% in Q4. Invesco Ltd. now owns 2,292,059 shares of the information services provider valued at $6,640,190,000 after purchasing an additional 283,907 shares last quarter. Finally, State Street Corp increased its stake in Alphabet shares by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider valued at $32,599,789,000 after buying an additional 157,280 shares last quarter. Hedge funds and other institutional investors own 41.70% of the company’s shares.
Alphabet trades up 1.8%
GOOGL shares opened at $116.32 on Friday. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 21.04, a growth price-to-earnings ratio of 1.12 and a beta of 1.10. The company’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 leverage ratio of 0.06.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, July 26. The information services provider reported earnings per share (EPS) of $1.21 for the quarter, missing analyst consensus estimates of $1.32 per ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same quarter a year earlier, the company posted EPS of $27.26. On average, analysts expect Alphabet Inc. to post EPS of 5.37 for the current year.
Wall Street analysts predict growth
A number of brokerages have recently published reports on GOOGL. JMP Securities cut its price target on Alphabet shares from $165.00 to $160.00 and set a “market outperformance” rating for the company in a Thursday, June 30 report. MKM Partners cut its price target on Alphabet shares from $165.00 to $140.00 and set a “buy” rating for the company in a Monday, July 18 report. Oppenheimer lowered his target price on Alphabet shares to $155.00 and set an “outperform” rating for the company in a report released Wednesday. Moffett Nathanson lowered his price target on Alphabet shares to $132.50 in a Thursday, May 26, report. Finally, Credit Suisse Group lowered its price target on Alphabet shares from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday. Five investment analysts gave the stock a hold rating, thirty-three gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.29.
In other news, major shareholder 2021 Gp LLC Gv acquired 255,647 shares of the company in a transaction dated Tuesday, May 10. The shares were purchased 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, valued at approximately $16,621,431.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Separately, SVP Prabhakar Raghavan sold 490 shares of Alphabet in a trade on Tuesday, May 3. 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 of the company, valued at $1,160,644.10. The sale was disclosed in a legal filing with the SEC, accessible via this link. Additionally, major shareholder 2021 Gp LLC Gv purchased 255,647 shares of the company in a transaction that took place on Tuesday, May 10. The stock was purchased 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, valued at approximately $16,621,431.75. Disclosure of this purchase can be found here. Insiders sold 7,269 shares of the company worth $12,792,226 in the past 90 days. Insiders of the company own 11.44% of the shares of the company.
About the alphabet
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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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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