State of Alaska Department of Revenue Has $112.77 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

State of Alaska Department of Revenue cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the first quarter, HoldingsChannel reports. The fund owned 740,675 shares of the information services provider’s stock after selling 2,555 shares during the period. Alphabet makes up approximately 1.3% of State of Alaska Department of Revenue’s holdings, making the stock its 8th largest holding. State of Alaska Department of Revenue’s holdings in Alphabet were worth $112,774,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. KFG Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $484,000. Valeo Financial Advisors LLC grew its stake in shares of Alphabet by 2.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 172,364 shares of the information services provider’s stock valued at $26,244,000 after acquiring an additional 3,508 shares during the period. Iyo Bank Ltd. grew its stake in shares of Alphabet by 19.7% during the 1st quarter. Iyo Bank Ltd. now owns 87,390 shares of the information services provider’s stock valued at $13,306,000 after acquiring an additional 14,370 shares during the period. Tradewinds Capital Management LLC grew its stake in shares of Alphabet by 11.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 4,395 shares of the information services provider’s stock valued at $669,000 after acquiring an additional 464 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in Alphabet by 12.1% in the 1st quarter. Sivia Capital Partners LLC now owns 20,700 shares of the information services provider’s stock worth $3,152,000 after purchasing an additional 2,231 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.4 %

NASDAQ GOOG opened at $187.39 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.32 trillion, a P/E ratio of 28.74, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.62. The stock has a 50 day moving average price of $175.47 and a 200-day moving average price of $156.57.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,288 shares of company stock worth $25,345,053. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOG shares. Stifel Nicolaus upped their price target 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 price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $167.86.

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.