Park Place Capital Corp Decreases Position in Alphabet Inc. (NASDAQ:GOOGL)

Park Place Capital Corp reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,504 shares of the information services provider’s stock after selling 787 shares during the period. Alphabet accounts for about 1.0% of Park Place Capital Corp’s portfolio, making the stock its 24th largest holding. Park Place Capital Corp’s holdings in Alphabet were worth $3,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter valued at about $32,000. Denver PWM LLC grew its position in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet during the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC boosted its stake in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last three months. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Roth Mkm increased their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $191.81 on Tuesday. The firm has a market capitalization of $2.35 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s fifty day moving average price is $186.46 and its 200 day moving average price is $173.57. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $202.29.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company earned $1.55 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

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.