Alphabet Inc. (NASDAQ:GOOG) is State of Alaska Department of Revenue's 8th Largest Position

State of Alaska Department of Revenue raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 759,225 shares of the information services provider's stock after purchasing an additional 11,425 shares during the period. Alphabet makes up about 1.3% of State of Alaska Department of Revenue's investment portfolio, making the stock its 8th largest holding. State of Alaska Department of Revenue's holdings in Alphabet were worth $118,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC grew its position in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares during the period. Raymond James Financial Inc. purchased a new stake in Alphabet during the 4th quarter valued at $1,551,533,000. Northern Trust Corp lifted its holdings in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, GQG Partners LLC boosted its stake in shares of Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock traded down $3.25 during trading hours on Thursday, hitting $173.98. The company's stock had a trading volume of 32,365,363 shares, compared to its average volume of 20,579,241. The company has a market cap of $2.11 trillion, a PE ratio of 19.40, a PEG ratio of 1.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business has a 50 day moving average price of $165.77 and a two-hundred day moving average price of $176.42. 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 earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 annualized dividend and a dividend yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Finally, KeyCorp reduced their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $204.88.

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.