Alphabet Inc. (NASDAQ:GOOG) Position Decreased by South Dakota Investment Council

South Dakota Investment Council decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 440,774 shares of the information services provider’s stock after selling 31,599 shares during the period. Alphabet comprises 1.3% of South Dakota Investment Council’s portfolio, making the stock its 8th largest holding. South Dakota Investment Council’s holdings in Alphabet were worth $62,118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Veracity Capital LLC boosted its holdings in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares in the last quarter. Washington Trust Bank boosted its holdings in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after buying an additional 1,826 shares in the last quarter. CNB Bank boosted its holdings in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC boosted its holdings in Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after buying an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $161.10 on Thursday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.00 trillion, a P/E ratio of 27.78, a PEG ratio of 1.47 and a beta of 1.05. The company has a 50-day moving average of $148.20 and a two-hundred day moving average of $142.40. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $159.86.

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.