State of New Jersey Common Pension Fund D Sells 10,469 Shares of Alphabet Inc. (NASDAQ:GOOGL)

State of New Jersey Common Pension Fund D decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,149,643 shares of the information services provider’s stock after selling 10,469 shares during the period. Alphabet comprises 1.6% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 10th largest holding. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $406,927,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raleigh Capital Management Inc. increased its position in Alphabet by 6.2% during the third quarter. Raleigh Capital Management Inc. now owns 16,870 shares of the information services provider’s stock worth $2,798,000 after buying an additional 987 shares during the last quarter. Integrity Financial Corp WA lifted its position in shares of Alphabet by 1.1% in the 3rd quarter. Integrity Financial Corp WA now owns 6,977 shares of the information services provider’s stock worth $1,157,000 after acquiring an additional 75 shares during the period. Kaye Capital Management raised its stake in shares of Alphabet by 1.0% in the 3rd quarter. Kaye Capital Management now owns 6,827 shares of the information services provider’s stock valued at $1,132,000 after buying an additional 65 shares in the last quarter. Ledyard National Bank boosted its holdings in Alphabet by 0.4% during the third quarter. Ledyard National Bank now owns 109,121 shares of the information services provider’s stock valued at $18,098,000 after purchasing an additional 458 shares in the last quarter. Finally, Telos Capital Management Inc. lifted its holdings in shares of Alphabet by 0.4% during the third quarter. Telos Capital Management Inc. now owns 111,714 shares of the information services provider’s stock valued at $18,528,000 after acquiring an additional 418 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOOGL shares. DA Davidson boosted their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley decreased their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Finally, Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $210.62.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,309 shares of company stock worth $25,057,490 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $170.33 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $190.58 and its 200-day simple moving average is $176.20. The firm has a market capitalization of $2.08 trillion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 9.94%.

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.