Alphabet Inc. (NASDAQ:GOOG) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,376,060 shares of the information services provider’s stock after selling 11,800 shares during the period. Alphabet accounts for approximately 1.1% of State of Michigan Retirement System’s investment portfolio, making the stock its 15th biggest holding. State of Michigan Retirement System’s holdings in Alphabet were worth $209,519,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Kennedy Capital Management LLC grew its holdings in shares of Alphabet by 13.2% during the third quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after buying an additional 7,556 shares during the last quarter. Jackson Wealth Management LLC boosted its holdings in Alphabet by 4.6% in the third quarter. Jackson Wealth Management LLC now owns 39,806 shares of the information services provider’s stock valued at $5,248,000 after purchasing an additional 1,735 shares during the last quarter. JS Capital Management LLC boosted its holdings in Alphabet by 164.0% in the third quarter. JS Capital Management LLC now owns 330,000 shares of the information services provider’s stock valued at $43,510,000 after purchasing an additional 205,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. Finally, Seven Eight Capital LP boosted its holdings in Alphabet by 48.1% in the third quarter. Seven Eight Capital LP now owns 88,776 shares of the information services provider’s stock valued at $11,705,000 after purchasing an additional 28,838 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders sold a total of 123,788 shares of company stock valued at $21,143,403 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.1 %

GOOG stock opened at $186.61 on Wednesday. The company has a market cap of $2.31 trillion, a price-to-earnings ratio of 28.62, a PEG ratio of 1.38 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.50. The firm has a 50-day moving average of $174.93 and a two-hundred day moving average of $156.20.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the company posted $1.17 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOG shares. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

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.