Alphabet Inc. $GOOG Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,665,537 shares of the information services provider’s stock after selling 10,768 shares during the period. Alphabet accounts for 1.1% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 13th largest holding. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $295,450,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hobart Private Capital LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $290,000. Allied Investment Advisors LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $215,000. Ranch Capital Advisors Inc. lifted its holdings in Alphabet by 15.8% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 3,292 shares of the information services provider’s stock worth $584,000 after buying an additional 450 shares in the last quarter. Richards Merrill & Peterson Inc. lifted its holdings in Alphabet by 2.8% during the 2nd quarter. Richards Merrill & Peterson Inc. now owns 9,364 shares of the information services provider’s stock worth $1,661,000 after buying an additional 257 shares in the last quarter. Finally, Sage Mountain Advisors LLC lifted its holdings in Alphabet by 2.9% during the 2nd quarter. Sage Mountain Advisors LLC now owns 38,262 shares of the information services provider’s stock worth $6,787,000 after buying an additional 1,084 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Morgan Stanley raised their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Pivotal Research raised their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $280.45.

Alphabet Trading Up 3.6%

Shares of Alphabet stock opened at $269.93 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $270.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.26 trillion, a P/E ratio of 28.75, a PEG ratio of 1.76 and a beta of 1.00. The company’s fifty day moving average is $238.65 and its two-hundred day moving average is $197.67.

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.