Park Avenue Securities LLC Buys 355 Shares of Alphabet Inc. (NASDAQ:GOOG)

Park Avenue Securities LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,695 shares of the information services provider’s stock after acquiring an additional 355 shares during the period. Park Avenue Securities LLC’s holdings in Alphabet were worth $5,575,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GOOG. Captrust Financial Advisors raised its holdings in Alphabet by 6.5% during the 4th quarter. Captrust Financial Advisors now owns 14,964 shares of the information services provider’s stock valued at $26,215,000 after buying an additional 912 shares during the last quarter. First National Bank of Hutchinson bought a new position in Alphabet in the 4th quarter worth $2,214,000. Brave Asset Management Inc. raised its position in shares of Alphabet by 2.4% during the first quarter. Brave Asset Management Inc. now owns 2,706 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 64 shares during the last quarter. Reby Advisors LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $238,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Alphabet by 5,763.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 49,660 shares of the information services provider’s stock worth $86,998,000 after purchasing an additional 48,813 shares during the period. 31.94% of the stock is owned by institutional investors.

In other news, SVP Philipp Schindler sold 1,385 shares of the stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $2,403.54, for a total transaction of $3,328,902.90. Following the sale, the senior vice president now owns 18,465 shares in the company, valued at $44,381,366.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total value of $6,205,500.00. Following the transaction, the chief executive officer now directly owns 6,757 shares in the company, valued at $13,976,854.50. The disclosure for this sale can be found here. Insiders have sold a total of 20,131 shares of company stock worth $43,393,845 in the last quarter. Company insiders own 12.99% of the company’s stock.

A number of research firms have recently issued reports on GOOG. Canaccord Genuity upped their price target on Alphabet from $2,400.00 to $2,600.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Mizuho upped their target price on Alphabet from $2,350.00 to $2,600.00 and gave the company a “buy” rating in a report on Monday, April 19th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, April 28th. Oppenheimer boosted their price target on Alphabet from $2,350.00 to $2,510.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Evercore ISI reiterated an “outperform” rating and set a $2,525.00 target price on shares of Alphabet in a research report on Tuesday, April 13th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $2,495.63.

Shares of GOOG traded down $52.91 during mid-day trading on Tuesday, reaching $2,342.26. 12,902 shares of the stock traded hands, compared to its average volume of 1,562,912. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 46.28, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $2,201.27 and a 200 day moving average price of $1,928.06. Alphabet Inc. has a 1 year low of $1,299.00 and a 1 year high of $2,452.38.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $15.74 by $10.55. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company had revenue of $55.30 billion for the quarter, compared to analysts’ expectations of $51.40 billion. During the same period last year, the firm posted $9.87 EPS. Alphabet’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 52.19 EPS for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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