Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,475,986 shares of the information services provider's stock after purchasing an additional 13,536 shares during the period. Alphabet accounts for approximately 1.5% of Arizona State Retirement System's portfolio, making the stock its 7th biggest position. Arizona State Retirement System's holdings in Alphabet were worth $230,593,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after purchasing an additional 20,855 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Alphabet by 10.0% in the 4th quarter. Proficio Capital Partners LLC now owns 82,690 shares of the information services provider's stock valued at $15,747,000 after purchasing an additional 7,548 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $1,551,533,000. Finally, Phillips Financial Management LLC lifted its stake in shares of Alphabet by 8.1% in the 4th quarter. Phillips Financial Management LLC now owns 4,165 shares of the information services provider's stock valued at $793,000 after purchasing an additional 313 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.5%

Shares of GOOG stock opened at $181.31 on Friday. The firm has a 50 day moving average price of $171.50 and a two-hundred day moving average price of $175.07. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.20 trillion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 in the last ninety days. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Barclays reiterated a "buy" rating on shares of Alphabet in a report on Wednesday. UBS Group reiterated a "buy" rating on shares of Alphabet in a report on Wednesday. Finally, Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $207.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.