Alphabet Inc. (GOOGL) Shares Bought by Riverpark Capital Management LLC
Riverpark Capital Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,085 shares of the information services provider’s stock after acquiring an additional 3,267 shares during the period. Alphabet accounts for approximately 2.6% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. Riverpark Capital Management LLC’s holdings in Alphabet were worth $22,391,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. State of Alaska Department of Revenue acquired a new position in Alphabet during the second quarter worth approximately $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in Alphabet during the first quarter worth approximately $108,000. Parkside Financial Bank & Trust increased its position in Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares during the period. Farmers National Bank increased its position in Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after buying an additional 4 shares during the period. Finally, Riggs Asset Managment Co. Inc. increased its position in Alphabet by 58.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares during the period. 33.81% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the company. Vetr raised Alphabet from a “sell” rating to a “hold” rating and set a $1,027.27 price target on the stock in a research report on Monday, November 6th. Pivotal Research reaffirmed a “hold” rating and set a $990.00 price target on shares of Alphabet in a research report on Sunday, October 29th. Citigroup Inc. reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, October 30th. Stifel Nicolaus lifted their price target on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,157.00 price target on the stock in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,088.53.
Shares of Alphabet Inc. (GOOGL) opened at $1,044.15 on Monday. The company has a market capitalization of $725,476.50, a PE ratio of 34.96, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,063.62.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. During the same period in the prior year, the firm posted $9.06 earnings per share. sell-side analysts anticipate that Alphabet Inc. will post 32.15 EPS for the current fiscal year.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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