Park Place Capital Corp Buys 1,797 Shares of Alphabet Inc. $GOOGL

Key Points

• Park Place Capital Corp increased its stake in Alphabet Inc. by 12.7%, acquiring an additional 1,797 shares, bringing its total holdings to 15,979 shares worth approximately $2.81 million.
• Insiders at Alphabet, including CEO Sundar Pichai and John Kent Walker, sold significant amounts of stock recently, with Pichai selling 32,500 shares and Walker 23,820 shares.
• Alphabet's stock opened at $245.35, with the company recently announcing a quarterly dividend of $0.21 per share, translating to an annualized yield of 0.3%.

Park Place Capital Corp raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,979 shares of the information services provider's stock after acquiring an additional 1,797 shares during the period. Park Place Capital Corp's holdings in Alphabet were worth $2,810,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Invesco Ltd. raised its stake in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG raised its stake in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.1%

GOOGL stock opened at $245.35 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The stock has a 50-day simple moving average of $221.25 and a two-hundred day simple moving average of $186.12.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their target price on Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Tigress Financial lifted their target price on Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Friday, September 5th. Wedbush lifted their target price on Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Jefferies Financial Group lifted their price objective on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Roth Capital lifted their price objective on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $240.76.

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.

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