Alphabet Inc. (NASDAQ:GOOG) is State of New Jersey Common Pension Fund D’s 8th Largest Position

State of New Jersey Common Pension Fund D trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,972,356 shares of the information services provider’s stock after selling 31,857 shares during the quarter. Alphabet accounts for 1.4% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 8th largest position. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $418,894,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet in the third quarter worth $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet during the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter worth about $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet during the 3rd quarter worth about $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus boosted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $165.67.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $173.69 on Friday. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.45 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $104.42 and a 1-year high of $176.42. The stock’s 50-day moving average is $149.12 and its 200 day moving average is $142.75.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

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.