Park Place Capital Corp Sells 2,607 Shares of Alphabet Inc. (NASDAQ:GOOG)

Park Place Capital Corp trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 31.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,802 shares of the information services provider’s stock after selling 2,607 shares during the quarter. Park Place Capital Corp’s holdings in Alphabet were worth $883,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Partnership Wealth Management LLC bought a new stake in Alphabet during the fourth quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday. One investment 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Trading Up 0.6 %

Shares of GOOG stock opened at $184.49 on Tuesday. The stock has a market cap of $2.28 trillion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.50. 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 stock has a 50 day simple moving average of $174.40 and a 200 day simple moving average of $155.84.

Alphabet (NASDAQ:GOOG) last released its earnings results 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. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. On average, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,344 shares of company stock worth $23,920,676. Corporate insiders own 12.99% 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.