State of Alaska Department of Revenue Has $119.81 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

State of Alaska Department of Revenue grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 774,799 shares of the information services provider's stock after purchasing an additional 17,410 shares during the quarter. Alphabet comprises approximately 1.4% of State of Alaska Department of Revenue's investment portfolio, making the stock its 7th largest position. State of Alaska Department of Revenue's holdings in Alphabet were worth $119,814,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new stake in Alphabet in the fourth quarter worth approximately $30,000. PayPay Securities Corp increased its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $49,000. Navigoe LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $51,000. Finally, Prudent Man Investment Management Inc. bought a new stake in Alphabet in the fourth quarter valued at $53,000. Institutional investors own 40.03% of the company's stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 228,070 shares of company stock worth $37,745,632. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. DA Davidson decreased their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Morgan Stanley decreased their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. KeyCorp boosted their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Stock Performance

Shares of Alphabet stock traded down $6.68 on Friday, reaching $166.64. 75,073,701 shares of the company traded hands, compared to its average volume of 33,262,564. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a 50 day moving average of $164.77 and a 200 day moving average of $174.72. The firm has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a PEG ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter last year, the business earned $1.89 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.9 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. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

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.