New York State Teachers Retirement System cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,431,958 shares of the information services provider's stock after selling 247,849 shares during the period. Alphabet accounts for 1.9% of New York State Teachers Retirement System's investment portfolio, making the stock its 6th biggest position. New York State Teachers Retirement System's holdings in Alphabet were worth $900,890,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC grew its position in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider's stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC grew its position in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider's stock worth $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after buying an additional 60 shares in the last quarter. First PREMIER Bank boosted its holdings in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock worth $275,000 after purchasing an additional 61 shares during the period. Finally, MKT Advisors LLC boosted its holdings in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock worth $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Up 0.7 %
NASDAQ:GOOGL traded up $1.27 during trading hours on Tuesday, hitting $181.62. The stock had a trading volume of 25,122,860 shares, compared to its average volume of 27,119,752. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The business has a 50 day simple moving average of $163.88 and a two-hundred day simple moving average of $169.91. The company has a market cap of $2.22 trillion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is 10.61%.
Insiders Place Their Bets
In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company's stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company's stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock valued at $40,156,829 in the last three months. Company insiders own 11.55% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on GOOGL shares. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Evercore ISI raised their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Mizuho raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Finally, Seaport Res Ptn raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.90.
Read Our Latest Analysis on Alphabet
About Alphabet
(
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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