State of New Jersey Common Pension Fund D Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

State of New Jersey Common Pension Fund D reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 35.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,165,485 shares of the information services provider’s stock after selling 1,197,482 shares during the period. Alphabet accounts for 1.7% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 8th largest holding. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $394,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. TrinityPoint Wealth LLC lifted its position in Alphabet by 1.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 59,125 shares of the information services provider’s stock worth $8,259,000 after acquiring an additional 907 shares during the last quarter. BlackDiamond Wealth Management LLC lifted its holdings in Alphabet by 3.5% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 9,417 shares of the information services provider’s stock worth $1,353,000 after purchasing an additional 318 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Alphabet by 2.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 995,828 shares of the information services provider’s stock worth $139,107,000 after purchasing an additional 19,376 shares during the last quarter. Prospector Partners LLC boosted its stake in Alphabet by 0.5% in the 4th quarter. Prospector Partners LLC now owns 64,925 shares of the information services provider’s stock valued at $9,069,000 after purchasing an additional 355 shares during the period. Finally, Hohimer Wealth Management LLC grew its holdings in Alphabet by 7.3% in the 4th quarter. Hohimer Wealth Management LLC now owns 27,729 shares of the information services provider’s stock valued at $3,877,000 after buying an additional 1,876 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Citigroup raised their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, September 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Monday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders sold 180,867 shares of company stock worth $29,878,106 over the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 0.5 %

NASDAQ:GOOGL opened at $161.49 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The firm’s 50 day simple moving average is $163.80 and its 200 day simple moving average is $166.17. The company has a market cap of $1.99 trillion, a PE ratio of 24.77, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the business earned $1.44 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Alphabet 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.