Maryland State Retirement & Pension System reduced its position in shares of Alphabet Inc. (NASDAQ: GOOG – Get Rating) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,376 shares of the information services provider’s stock after selling 140 shares during the period. Alphabet accounts for approximately 1.6% of Maryland State Retirement & Pension System’s holdings, making its stock its 7th biggest position. Maryland State Retirement & Pension System’s holdings in Alphabet were worth $ 59,703,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Alphabet by 1.1% during the 4th quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock worth $ 55,545,866,000 after buying an additional 205,225 shares during the period. State Street Corp raised its stake in Alphabet by 0.6% during the 4th quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $ 30,696,262,000 after purchasing an additional 58,955 shares during the last quarter. Geode Capital Management LLC raised its stake in Alphabet by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock valued at $ 13,474,847,000 after purchasing an additional 97,666 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 2.4% during the 4th quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider’s stock valued at $ 10,857,740,000 after purchasing an additional 87,144 shares during the last quarter. Finally, Alliancebernstein LP raised its stake in Alphabet by 1.6% during the 4th quarter. Alliancebernstein LP now owns 3,082,944 shares of the information services provider’s stock valued at $ 8,920,776,000 after purchasing an additional 48,928 shares during the last quarter. 31.20% of the stock is owned by institutional investors and hedge funds.
GOOG has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $ 3,290.00 target price on shares of Alphabet in a research note on Thursday, April 28th. Tigress Financial upped their target price on shares of Alphabet from $ 3,540.00 to $ 3,670.00 in a research note on Friday, March 18th. Raymond James cut their target price on shares of Alphabet from $ 3,630.00 to $ 3,180.00 in a research note on Wednesday, April 27th. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $ 3,450.00 to $ 3,200.00 in a research note on Wednesday, April 27th. Finally, Wedbush reiterated an “outperform” rating on shares of Alphabet in a research note on Wednesday, April 20th. Twenty-nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $ 3,315.38.
Shares of NASDAQ: GOOG opened at $ 2,240.30 on Wednesday. Alphabet Inc. has a 12 month low of $ 2,044.16 and a 12 month high of $ 3,042.00. The company 50-day moving average price is $ 2,315.30 and its two-hundred day moving average price is $ 2,606.87. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm has a market cap of $ 1.48 trillion, a P / E ratio of 20.26, a P / E / G ratio of 1.04 and a beta of 1.13.
Alphabet’s stock is going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ: GOOG – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The information services provider reported $ 24.62 EPS for the quarter, missing analysts’ consensus estimates of $ 25.70 by ($ 1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company had revenue of $ 56.02 billion for the quarter, compared to the estimate consensus of $ 56.17 billion. During the same period in the prior year, the company earned $ 26.29 EPS. As a group, equities analysts predict that Alphabet Inc. will post 111.86 earnings per share for the current fiscal year.
In other Alphabet news, Director Ann Mather sold 21 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $ 2,102.84, for a total transaction of $ 44,159.64. Following the sale, the director now owns 565 shares of the company stock, valued at approximately $ 1,188,104.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 1,276 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $ 2,816.49, for a total transaction of $ 3,593,841.24. Following the completion of the transaction, the senior vice president now directly owns 14,034 shares in the company, valued at approximately $ 39,526,620.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 551,675 shares of company stock worth $ 25,567,428. Insiders own 12.99% of the company stock.
Alphabet Company Profile: (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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