Alphabet Inc. $GOOGL is State of New Jersey Common Pension Fund D's 7th Largest Position

Key Points

• State of New Jersey Common Pension Fund D trimmed its Alphabet stake by 2.1% in the fourth quarter, but the position remains substantial at 1.99 million shares worth about $621.6 million. Alphabet is still the fund’s 7th-largest holding.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates by a wide margin and revenue of $109.9 billion topping expectations. The company also posted robust profitability, with a 37.92% net margin and 38.99% return on equity.
• The company raised its quarterly dividend to $0.22 per share, while analysts remain broadly positive with multiple price-target hikes and a consensus rating of Moderate Buy. Recent insider sales were disclosed, though institutional ownership remains high at about 40%.

State of New Jersey Common Pension Fund D lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,986,061 shares of the information services provider's stock after selling 42,896 shares during the quarter. Alphabet makes up about 2.2% of State of New Jersey Common Pension Fund D's holdings, making the stock its 7th biggest holding. State of New Jersey Common Pension Fund D's holdings in Alphabet were worth $621,637,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC raised its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank raised its holdings in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after purchasing an additional 3,120 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL opened at $396.94 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $4.81 trillion, a P/E ratio of 30.28, a P/E/G ratio of 1.70 and a beta of 1.26. The company's fifty day moving average is $331.22 and its two-hundred day moving average is $318.52. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, sell-side analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is presently 6.41%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total value of $9,859,850.00. Following the transaction, the chief executive officer directly owned 1,674,560 shares of the company's stock, valued at approximately $508,028,012.80. The trade was a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total transaction of $348,232.50. Following the completion of the transaction, the director directly owned 3,581 shares in the company, valued at $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 257,931 shares of company stock worth $36,886,538 in the last ninety days. Insiders own 11.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on GOOGL shares. Truist Financial raised their price objective on shares of Alphabet from $385.00 to $415.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Loop Capital raised their price objective on shares of Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a report on Friday. HSBC raised their price objective on shares of Alphabet from $385.00 to $435.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Cantor Fitzgerald lifted their target price on shares of Alphabet from $395.00 to $465.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Canaccord Genuity Group lifted their target price on shares of Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $411.23.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google and Blackstone reportedly plan to launch a new AI cloud company, a move that could expand demand for Alphabet’s specialized chips and deepen its presence in enterprise AI infrastructure. Google, Blackstone to create new AI cloud company, WSJ reports
• Positive Sentiment: Alphabet is heading into Google I/O with expectations for major AI announcements, and analysts are watching for updates on Gemini, agentic commerce, and in-house TPU chips that could strengthen its competitive position. Google I/O primer: Alphabet's AI showcase is its chance to wow Wall Street
• Positive Sentiment: Arete Research raised its price target on Alphabet to $425 from $405 and kept a buy rating, signaling continued upside confidence from analysts. Arete Research adjusts price target on Alphabet to $425 from $405
• Positive Sentiment: Multiple articles highlighted Alphabet’s strong momentum this year, with AI demand, cloud growth, and Berkshire Hathaway’s much larger stake helping validate the bullish case. Read More.
• Neutral Sentiment: Alphabet disclosed insider-share sales by a major shareholder, but the transactions appear routine and were reported through standard SEC filings. SEC filing
• Negative Sentiment: Alphabet also faces ongoing headline risk from its YouTube youth-safety settlement and broader scrutiny around AI and platform responsibility, though these issues look secondary to the company’s current AI-driven optimism. Alphabet’s $5 Trillion Milestone: How AI Ambitions Are Fueling Google’s Record Run

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.