New York State Common Retirement Fund lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,414,343 shares of the information services provider's stock after selling 320,909 shares during the period. Alphabet comprises approximately 1.5% of New York State Common Retirement Fund's investment portfolio, making the stock its 8th largest holding. New York State Common Retirement Fund owned 0.05% of Alphabet worth $1,002,113,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Financial Security Advisor Inc. boosted its holdings in shares of Alphabet by 2.4% in the 1st quarter. Financial Security Advisor Inc. now owns 6,957 shares of the information services provider's stock valued at $1,087,000 after purchasing an additional 165 shares in the last quarter. Platform Technology Partners raised its position in shares of Alphabet by 1.9% in the 1st quarter. Platform Technology Partners now owns 23,083 shares of the information services provider's stock worth $3,606,000 after acquiring an additional 421 shares in the last quarter. BankPlus Trust Department raised its position in shares of Alphabet by 6.8% in the 1st quarter. BankPlus Trust Department now owns 13,667 shares of the information services provider's stock worth $2,135,000 after acquiring an additional 871 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Alphabet by 0.9% in the 1st quarter. Arizona State Retirement System now owns 1,475,986 shares of the information services provider's stock valued at $230,593,000 after buying an additional 13,536 shares during the period. Finally, Kathmere Capital Management LLC grew its stake in shares of Alphabet by 19.3% in the 1st quarter. Kathmere Capital Management LLC now owns 25,049 shares of the information services provider's stock valued at $3,913,000 after buying an additional 4,048 shares during the period. Institutional investors own 27.26% of the company's stock.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,443 shares of company stock worth $36,298,548 in the last 90 days. 12.99% of the stock is currently owned by insiders.
Alphabet Stock Up 0.3%
Shares of NASDAQ GOOG traded up $0.53 on Monday, reaching $181.84. 8,869,618 shares of the company's stock traded hands, compared to its average volume of 23,954,705. The company has a market cap of $2.21 trillion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. 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 business's 50 day simple moving average is $171.50 and its two-hundred day simple moving average is $174.76. 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 announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating 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 company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Scotiabank reduced their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $207.13.
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About Alphabet
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Free Report)
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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