Congress Park Capital LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Congress Park Capital LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,158 shares of the information services provider’s stock after selling 384 shares during the period. Alphabet accounts for 1.5% of Congress Park Capital LLC’s holdings, making the stock its 20th biggest position. Congress Park Capital LLC’s holdings in Alphabet were worth $3,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. JPMorgan Chase & Co. increased its stake in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Capital International Investors increased its stake in Alphabet by 1.1% during the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares in the last quarter. Norges Bank acquired a new position in Alphabet during the 4th quarter valued at approximately $4,101,040,000. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in shares of Alphabet by 2.9% in the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after acquiring an additional 813,428 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock worth $24,534,393 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded down $1.48 during midday trading on Friday, hitting $185.38. The company’s stock had a trading volume of 7,383,358 shares, compared to its average volume of 21,185,707. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.50. The company has a market cap of $2.29 trillion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The business’s 50 day simple moving average is $173.26 and its 200 day simple moving average is $154.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the business earned $1.17 earnings per share. Alphabet’s revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOG shares. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Alphabet Company Profile

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.