Alphabet Inc. (NASDAQ:GOOG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.6% during the third quarter, Holdings Channel.com reports. The firm owned 6,785,554 shares of the information services provider’s stock after selling 561,577 shares during the quarter. Alphabet accounts for about 1.5% of New York State Common Retirement Fund’s portfolio, making the stock its 7th biggest position. New York State Common Retirement Fund’s holdings in Alphabet were worth $1,134,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wallington Asset Management LLC grew its stake in Alphabet by 1.1% in the first quarter. Wallington Asset Management LLC now owns 77,062 shares of the information services provider’s stock valued at $11,733,000 after purchasing an additional 856 shares in the last quarter. Meadow Creek Wealth Advisors LLC grew its stake in shares of Alphabet by 274.9% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 13,248 shares of the information services provider’s stock valued at $2,017,000 after buying an additional 9,714 shares in the last quarter. Bourgeon Capital Management LLC increased its holdings in Alphabet by 68.5% during the first quarter. Bourgeon Capital Management LLC now owns 12,246 shares of the information services provider’s stock worth $1,865,000 after buying an additional 4,978 shares during the last quarter. Madrona Financial Services LLC raised its position in Alphabet by 1.7% during the first quarter. Madrona Financial Services LLC now owns 7,376 shares of the information services provider’s stock worth $1,123,000 after acquiring an additional 121 shares in the last quarter. Finally, PCG Wealth Advisors LLC lifted its stake in Alphabet by 5.8% in the first quarter. PCG Wealth Advisors LLC now owns 1,823 shares of the information services provider’s stock valued at $278,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GOOG shares. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Alphabet stock opened at $172.65 on Friday. The firm has a market cap of $2.13 trillion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The stock’s fifty day moving average price is $163.81 and its two-hundred day moving average price is $170.43. Alphabet Inc. has a one year low of $128.11 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter last year, the business earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.83 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,244 shares of company stock worth $37,776,954. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.