Congress Park Capital LLC Has $10.45 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Congress Park Capital LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,249 shares of the information services provider’s stock after selling 1,067 shares during the period. Alphabet makes up 4.6% of Congress Park Capital LLC’s investment portfolio, making the stock its 2nd biggest holding. Congress Park Capital LLC’s holdings in Alphabet were worth $10,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GOOGL. Pegasus Partners Ltd. increased its holdings in shares of Alphabet by 6.1% during the third quarter. Pegasus Partners Ltd. now owns 30,567 shares of the information services provider’s stock valued at $4,000,000 after acquiring an additional 1,757 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Alphabet by 3.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 19,763 shares of the information services provider’s stock worth $2,586,000 after purchasing an additional 647 shares in the last quarter. Paragon Private Wealth Management LLC grew its position in Alphabet by 1.6% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 21,739 shares of the information services provider’s stock valued at $2,845,000 after purchasing an additional 341 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Alphabet by 14.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 408,922 shares of the information services provider’s stock valued at $53,512,000 after purchasing an additional 53,123 shares in the last quarter. Finally, O ROURKE & COMPANY Inc raised its holdings in Alphabet by 4.7% during the third quarter. O ROURKE & COMPANY Inc now owns 17,823 shares of the information services provider’s stock worth $2,332,000 after buying an additional 793 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Raymond James lifted their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. TD Cowen increased their price objective on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Jefferies Financial Group raised their price objective on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Bank of America restated a “buy” rating and set a $200.00 price target on shares of Alphabet in a report on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Alphabet Stock Performance

Alphabet stock opened at $182.15 on Friday. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $186.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.25 trillion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The firm’s 50 day simple moving average is $172.85 and its 200 day simple moving average is $154.29.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,284 shares of company stock worth $24,534,393. Insiders own 11.55% of the company’s stock.

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.